On march 1, 2017, crane company acquired real estate, on which it planned to construct a small office building, by paying $86,500 in cash. an old warehouse on the property was demolished at a cost of $9,500; the salvaged materials were sold for $1,960. additional expenditures before construction began included $1,460 attorney's fee for work concerning the land purchase, $5,150 real estate broker's fee, $8,960 architect's fee, and $15,300 to put in driveways and a parking lot.