(Determine cost of landand building whenacquired together)

Laural Company paid $840,000 cash for real property consisting of a tract of land and a building. The company intended to remodel and use the old building. To allocate the cost of theproperty acquired, Laural had the property appraised. The appraised values were as follows:land, $576,000, and office building, $384,000. The cost of clearing the land was $18,000. Thebuilding was remodeled at a cost of $76,800. The cost of a new identical office building wasestimated to be $432,000. Create aschedule showing the cost of the assets acquired.