Carver Inc. purchased a building and the land on which the building is situated for a total cost of $925,300 cash. The land was appraised at $212,819 and the building at $851,276. Required 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. Complete this question by entering your answers in the tabs below. Required B Required C Required D 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. Allocated Cost Land Building Total Complete this question by entering your answers in the tabs below. Required B Required C Required D Would the company recognize a gain on the purchase? Would the company recognize a gain on the purchase? Required B Required D > Record the purchase in a horizontal statements model. In the C statements model. (In the Cash Flow column, indicate whether the item is an operatin or a financing activity (FA). If an element is not affected by the event, leave the cell blank. Enter any decreases to account minus sign. Round intermediate calculations to 2 decimal places and final answers to the nearest whole number.) CARVER INC. Horizontal Statements Model Income Statement Balance Sheet Assets Land Statement of Cash Flows Cash = Liabilities - Net Income Equity Revenue - Expense = + Building