Name: 5) A company paid $1 54,000 for a property. The property included land appraised at $87,500, land improvements appraised at $35,000, and a building appraised at $52,500. How should the purchase cost be allocated in the company's accounting records between land, land improvements, and the building? (No journal entry is required) Account Land Land Improvements Building Total Appraised Value $87,500 $35,000 $52,500 $175,000 Balance Sheet Balances 3080 8 46200 $154.000 97500 175,0e