Snickers Company paid $50,000 to renovate its factory floor so that production can be expanded. It also paid $20,000 to inspect and repair all machines on the factory floor to ensure that equipment does not stop working before the end of its useful life. Which of the following statements is TRUE? The $50,000 is an expense and the $20,000 is a capital expenditure. The $50,000 is a capital expenditure and the $20,000 is an expense. Both items are capital expenditures. Both items are expenses