Harding Corporation acquired real estate that contained land…
Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $1,425,000. Harding paid $350,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $370,000; Building, $1,100,000 and Equipment, $730,000.What value will be reported for the land on the balance sheet?Note: Round intermediate percentage values to a whole percentage. Do not round other intermediate calculations.