Splish Landscaping began construction of a new plant on December 1, 2020. On this date, the company purchased a parcel of land for $150,000 in cash. In addition, it paid $2,160 in surveying costs and $4,320 for a title insurance policy. An old dwelling on the premises was demolished at a cost of $3,360, with $960 being received from the sale of materials. Architectural plans were also formalized on December 1, 2020, when the architect was paid $40,800. The necessary building permits costing $3,360 were obtained from the city and paid for on December 1 as well. The excavation work began during the first week in December with payments made to the contractor in 2021 as follows. Date of Payment Amount of Payment March 1 May 1 July 1 $252,000 334,800 60,000 The building was completed on July 1, 2021. To finance construction of this plant, Splish borrowed $612,000 from the bank on December 1, 2020. Splish had no other borrowings. The $612,000 was a 10-year loan bearing interest at 8% Compute the balance in each of the following accounts at December 31, 2020, and December 31, 2021. (Round answers to O decimal places, e.g. 5.275.) December 31, 2020 December 31, 2021 (a) Balance in Land Account 158,880 158.880 (b) Balance in Building (c) Balance in Interest Expense