On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $35,000 in cash and giving a short-term note for $247,000. Legal fees paid were $1,315, delinquent taxes assumed were $12,000, and fees paid to remove an old building from the land were $17,700. Materials salvaged from the demolition of the building were sold for $4,200. A contractor was paid $857,300 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet

Ronald sees that his employer's stock has grown from $20 a share to $60 a share this year, while most stocks have seen only 5% growth. his employer offers to let him convert a large portion of his salary into stock options. what is not a valid reason to turn down the stock offer? a)stocks with high returns have high volatility, and ronald's company may not grow further. b)ronald may be taxed more for capital gains than he would be for employment income. c)stock options are illiquid, and ronald may not be able to use them to pay for unexpected bills. d)ronald would be committing stock fraud if he exercises the options.