Stratosphere Company acquires its only building on January 1, Year 1, at a cost of $4,000,000....

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Stratosphere Company acquires its only building on January 1, Year 1, at a cost of $4,000,000. The building has a 20-year life, zero residual value, and is depreciated on a straight-line basis. The company adopts the revaluation model in accounting for buildings. On December 31, Year 2, the fair value of the building is $3,780,000. The company eliminates accumulated depreciation against the building account at the time of revaluation. The company's accounting policy is to reverse a portion of the revaluation surplus account related to increased depreciation expense. On January 2, Year 4, the company sells the building for $3,500,000. Determine the amounts to be reflected in the balance sheet related to this building for Years 1-4 in the following table. (Use parentheses to indicate credit amounts.) (Problems 26-29) 26. Accumulated Date Cost Depreciation Carrying Amount Revaluation Surplus Retained Income Earnings Y1: Jan 1 Y1: Dec 31 Balance 27. Date Y2: Jan 1 Y2: Dec 31 Balance 28. Date Y3: Jan 1 Y3: Dec 31 Balance 29. Date Y4: Jan 1 Y4: Dec 31 Balance Cost Accumulated Depreciation Carrying Ammount Revaluation Surplus Income Retained Earnings wwwwwwww Accumulated Cost Depreciation Carrying Amount Revaluation Surplus Retained Income Earnings Cost Accumulated Depreciation Carrying Amount Revaluation Surplus Retained Income Earnings Stratosphere Company acquires its only building on January 1, Year 1, at a cost of $4,000,000. The building has a 20-year life, zero residual value, and is depreciated on a straight-line basis. The company adopts the revaluation model in accounting for buildings. On December 31, Year 2, the fair value of the building is $3,780,000. The company eliminates accumulated depreciation against the building account at the time of revaluation. The company's accounting policy is to reverse a portion of the revaluation surplus account related to increased depreciation expense. On January 2, Year 4, the company sells the building for $3,500,000. Determine the amounts to be reflected in the balance sheet related to this building for Years 1-4 in the following table. (Use parentheses to indicate credit amounts.) (Problems 26-29) 26. Accumulated Date Cost Depreciation Carrying Amount Revaluation Surplus Retained Income Earnings Y1: Jan 1 Y1: Dec 31 Balance 27. Date Y2: Jan 1 Y2: Dec 31 Balance 28. Date Y3: Jan 1 Y3: Dec 31 Balance 29. Date Y4: Jan 1 Y4: Dec 31 Balance Cost Accumulated Depreciation Carrying Ammount Revaluation Surplus Income Retained Earnings wwwwwwww Accumulated Cost Depreciation Carrying Amount Revaluation Surplus Retained Income Earnings Cost Accumulated Depreciation Carrying Amount Revaluation Surplus Retained Income Earnings