Youngberg Company owns several acres of land that were recently appraised at $ 1.5 million. Youngberg purchased

Question:

Youngberg Company owns several acres of land that were recently appraised at $ 1.5 million. Youngberg purchased this land 10 years ago at a cost of $ 150,000. What amount should Youngberg show on its external balance sheet? Why? What amount should Youngberg report on its internal balance sheet? Why?