The following additional information was found in the 2022 fixed asset schedules working paper files. The building which cost $997,426 in 1988 was sold for $150,000. It was the only building in Class 3 at the time of its sale. A new building was purchased (non used) in February 2022 for $750,000. Also, 1 in February 2022 a lot adjacent to the new building, was purchased for $100,000 for use as a parking lot by employees and visitors. This lot was paved at a cost of $25,000. A fence was erected also in February 2022 around an outside storage area near the new building at a cost of $40,000. 2 New office furniture was purchased for $20,000. This purchase replaced old assets which were sold for $5,000. None of the old assets was sold for more than capital cost. 3 Some small tools were sold for a total of $7,000. All of these tools were sold at a price less than their capital cost. Leasehold improvements had been made to a leased warehouse at a cost of $225,000 in September 2019 . The remaining length of the lease in that year was six years with two successive renewal options of three years each. Further leasehold improvements were made to this warehouse in 2022 at a cost of $21,000. 5 During January 2022, an unlimited life franchise was purchased for $48,000. 6 Accounting gains and losses on the above asset sales netted to nil