You are a staff accountant at a regional manufacturing concern that operates in the Southeast United States. Your company is expanding its operations to the Southwest. In May 2022 your company signed an agreement with a group of civic-minded businessmen who gave land to your company as an incentive to build the factory in Flagstaff, AZ. The agreement requires that your company (a) begins construction of a 250,000+ square foot factory within 2 years and (b) employs at least 300 employees at the factory within 5 years. At the time the agreement was signed the land was worth approximately $2,000,000. Construction has not begun by the end of 2022 and the value of the land has increased to $2,500,000. Your boss asks you how this gift affects your companys financial statements.