Requirements 1. Journalize transactions for the following (explanations are not required): a. Purchase of the land b. All the costs chargeable to the building in a single entry c. Depreciation on the building for 2021 2. Report Lee's plant assets on the company's balance sheet at December 31, 2021. 3. What will Lee's income statement for the year ended December 31,2021 , report for these facts? During 2021, Le0's Book Store paid $490,000 for land and buit a store in Lockport, Now York. Prior to construction, the city of Lockport charged Leo's $1,700 for a building permit, Which Lee's paid. Lee's also paid $15,700 for archilect's foos. The construction cost of $705,000 was financed by a long-term note payable, with interest costs of $30,040 paid at the completion of the project. The building was completed June 30, 2021. Lee's depreciates the builcing using the straight-line method over 35 years, with estimated residual value of $340,000. Read the Requirement 1. Journalize transactions for the following (explanations are not required): a. Purchase of the land: b. All the costs chargeable to the building in a single entry, and c. Depreciation on the building for 2021. (Record debits first, then credits. Exclude explanations from any jourral entries ) a. Joumalize the purchase of the land