9. Santa Corporation purchased a land for $95,000 in 2004. On December 31, 2020, an appraisal determined the fair value of the land is $125,000. If Santa follows the historical cost principle, in the 2020 financial statements, the land will be reported at (2.5 Points) $95,000 on the income statement. $95,000 on the statement of financial position. $125,000 on the income statement. $125,000 on the statement of financial position.