Carver Inc. purchased a building and the land on which the building is situated for a total cost of $827,500 cash. The land was appraised at $171,292 and the building at $780,332. 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 statements model. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D What is the accounting term for this type of acquisition? Type of acquisition as per accounting Complete this question by entering your answers in the tabs below. Required A 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. (Do not round intermediate calculations. Round your final answers to nearest whole dollar) Allocated Cost Land Building Total Complete this question by entering your answers in the tabs below. Required A 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 > Complete this question by entering your answers in the tabs below. Required A Required B Required Required Record the purchase in a statements model like the following one. (Do not round intermediate calculations. Round your final answers to nearest whole dollar in the Cash Initials OA to designate operating activity, IA for investing activity, FA for financing activity, NC for net change in cash and NA for not affected. Enter any decreases to acce minus sign.) CARVER INC Statement Model Balance Sheet Income Statement Llabilities - Equity Revenue - Expenses Not Income Assets Land Statement of Cash Flows Cash + Building -