Transcribed image text: Maria Manufacturing Co. was incorporated on 1/2/17 but was unable to begin manufacturing activities until 8/1/20 because new factory facilities were not completed until that date. The Land and Buildings account at 12/31/20 per the books was as follows: To acquire the land and building on 1/31/20, the company paid $122,000 cash and 1,000 shares of its common stock (par value $100/ share) which is very actively traded and had a fair value per share of $228. When the old building was removed, Maria paid Kwik Demolition Co,$4.880, but also received $1.830 from the sale of salvaged material. 4. The fire insurance premium covered premiums for a three year term beginning May 1,2020. 5 6. Because of the rising land costs, the president was sure that the land was worth at least 591.500 more than what it cout the company. 4. The fire insurance premium covered premiums for a three-year term beginning May 1, 2020 . 5. 6. Because of the rising land costs, the president was sure that the land was worth at least 591,500 more than what it cost the compary