Carver Inc. purchased a building and the land on which the building is situated for a total cost of $942,500 cash. The land was appraised at $227,614 and the building at $856,261. 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.