Carver Inc. purchased a building and the land on which the building is situated for a total cost of $894,700 cash. The land was appraised at $246,937 and the building at $781,968. Required a. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building. b. Would the company recognize a gain on the purchase? c. Record the purchase in a statements model like the following one. d. Record the purchase in general journal format. Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Allocated Cost Land Building Total 0