2 14.28 points Carver Inc purchased a building and the land on which the building is situated for a total cost of $970700 cash. The land was appraised at $245,587 and the building at $870,718 Required a. What is the accounting term for this type of acquisition? b. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building c. Would the company recognize a gain on the purchase? d. Record the purchase in a horizontal statements model Hurt Complete this question by entering your answers in the tabs below. Required A Required Required Required D What is the accounting term for this type of acquisition? What in the accounting form for this type of acquisition? KRA Required B > U. Record the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Required Required Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building. (Round intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount) ABO Lund Buliding Total d. Record the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Required cRequired D Would the company recognize a gain on the purchase? Would the company recognize a gain on the purchase? d. Record the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Required Required 0 Record the purchase in a horizontal statements model in the Cash Flow.column, indicate whether the item is an operating activity (OA), an investing activity (IAN or a financing activity (FA). If an element is not affected by the event, leave the cell blank. Enter any decreases to account balances and cash outflows with a minus sign. Round intermediate calculations to 2 decimal places and final answers to the nearest whole number. Not all cells will require entry) Show Balance Sheet CARVER INC. Horizontal Statement Model Income Saturnont Net Liabilities - Equity Revenue - Expense- Income Statement of Cash Flow Building