acquisition of land and building on february 1, 2019, edwards corporation purchased a parcel of land as a factory site for $100,000. it demolished an old building on the property and began construction on a new building that was completed on october 2, 2019. costs incurred during this period are: demolition of old building $ 8,000 architect's fees 25,000 legal fees for title investigation and purchase contract 4,000 construction costs 650,000 edwards sold salvaged materials resulting from the demolition for $2,000. required: question content area 1. at what amount should edwards record the cost of the land and the new building, respectively? if an input box should be blank, enter a zero.