Carver Inc. purchased a building and the land on which the building is situated for a total cost of $934,400 cash. The land was appraised at $247149 and the building at $827411. Required o. 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 horzontal statements model. Complete this question by entering your answers in the tabs below. Required a Required Required Required 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. und A Required Required Required Record the purchase in a horizontal statements model. (Do not found intermediate calculations. Round your final aivwers to nearest whole dollar in the Statement of Cash Flows col Oto decorate 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 account balonom and mission Not all cells require input.) CARVER INC Horizontal Statements Model Balance Sheet Income statement Statement of Cash Flows Lab Stockholder's Equity Revenue Expenses Net Income Land Building - +