You have been given the following information for Ethan Company as of June 1 201

You have been given the following information for Ethan Company as of June 1 2010. Ethan Company purchased a parcel of land and then incurred specific costs for the construction of a new building. Below is a list of these costs:Cost of Parking Lot and gates=$14000Cost of filling the building site= $10000Legal Fees to buy land= $2000Cost of driveway= $9000Property Taxes for Jan 12010 to June 1 2010= $5000Title Insurance= $2000Interest on the construction loan= $13000Proceeds from the sale of salvage materials= ($1500)Purchase price of land= $200000Cost of the building construction= $650000Cost of razing building on lot= $9500Cost of grading the lot= $5000Required:Determine the accounts that are affected by the above transactions and the final balance of each account. (Note: The interest on the construction loan will be applied to the cost of the land.)