The Italian Pizza Company purchased land as a factory site for $78,000. Prior to construction of the new building, the land had to be cleared of trees and brush. Construction costs incurred during the first year are listed below: Land clearing costs Sale of firewood to a worker Architect fees (for new building) Title investigation of land Property taxes on land (for the first year) Building construction costs $ 3,800 (520) 18,000 2,300 1,800 280,000 Required: Determine the amounts that the company should record in the land and the new building accounts. (Amounts to be deducted should be indicated by a minus sign.) Land Building Totals