In 1998,Parker Corporation Purchased Land for $130,000

Multiple Choice

In 1998,Parker Corporation purchased land for $130,000.In 2010,Parker Company had the land appraised,and its value was estimated to be $190,000.Also during 2010,another company offered Parker $145,000 for the parcel of land.When the balance sheet is prepared at the end of 2010,at what dollar amount should the land be reported?

A) $190,000
B) $145,000
C) $130,000
D) None of these