InJanuary 2017, ProTech Co. pays $1,550,000 for a tract of land with two buildings. It plans to demol Building A and build a new shop in its place. Building B will be a company office; it is appraised on $482.800, with a useful life of 15 years and a $99.500 salvage value. A lighted parking lot near Buildin B has improvements (Land Improvements B) valued at $142.000 that are expected to last another fi years with no salvage value. Without the buildings and improvements, the tract of land is valued w 795.200. The company also incurs the following additional costs $122.000 Cost of additional land grading.. Cost to construct new building (Building C), having a useful life of 20 years 174,500 and a $258,000 salvage value... Cost of new land improvements (Land Improvements C) near Building C 1,458,000 . 103,500 Required 1. Prepare a table with the following column headings: Land, Building B, Building C. Land Improvenens Improvements C. Allocate the costs incurred by ProTech to the appropriate columns and B, and Land total each column (round percents to the nearest 1%). 2. Prepare a single journal entry to record all incurred costs assuming they are paid in cash on January l a. Using the straight-line method. prepare the December 31 adjusting entries to record depreciation is ,2017 the 12 months of 2017 when these assets were in use