A company purchased land for $95,000 cash. Commissions of $14,500, property taxes of $15,000, and title insurance of $4,800 were also incurred. The $15,000 in property taxes includes $8,000 in back taxes paid by the company on behalf of the seller and $7,000 due for the current year after the purchase date. For what amount should the company record the land

Magic realm, inc., has developed a new fantasy board game. the company sold 15,000 games last year at a selling price of $20 per game. fixed expenses associated with the game total $182,000 per year, and variable expenses are $6 per game. production of the game is entrusted to a printing contractor. variable expenses consist mostly of payments to this contractor. required: 1-a. prepare a contribution format income statement for the game last year.1-b. compute the degree of operating leverage.2. management is confident that the company can sell 58,880 games next year (an increase of 12,880 games, or 28%, over last year). given this assumption: a. what is the expected percentage increase in net operating income for next year? b. what is the expected amount of net operating income for next year? (do not prepare an income statement; use the degree of operating leverage to compute your answer.)