In January 2017, Mitzu Co. pays $2,600,000 for a tract of land with two buildings on it. It plans to demol ish Building 1 and build a new store in its place. Building 2 will be a company office; it is appraised at $644,000, with a useful life of 20 years and a $60,000 salvage value. A lighted parking lot near Building I has improvements (Land Improvements 1) valued at $420,000 that are expected to last another 12 years with no salvage value. Without the buildings and improvements, the tract of land is valued at $1,736.000 The company also incurs the following additional costs: 328,400 175,400 2,202,000 164,000 Cost to construct new building (Building 3), having a useful life of 25 years and a $392,000 salvage value... Cost of new land improvements (Land Improvements 2) near Building 2 having a 20-year useful life and no salvage value. . . . . . . . . . . . . . . . . . . . . . . . . . . . Required 1. Prepare a table with the following column headings: Land, Building 2, Building 3, Land Improvements 1, and Land Improvements 2. Allocate the costs incurred by Mitzu to the appropriate columns and total each column (round percents to the nearest 1%) January 1, 2017. the 12 months of 2017 when these assets were in use. 2. Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on preciation for