On March 16, Wildhorse Company purchased a building with a price of $950000, attorney's fees for closing of $1400, title insurance of $3100, real estate broker's commission of $26200, and property insurance for the first year of $6800. The company paid cash for the acquisition. What is the effect of recording the purchase in a tabular analysis? June 1 June 5 Cash 2173000 Assets Building 230000 + Accum. Depr- Equip. -66900 = = Liabilities Accounts Payable + + Common Stock Stockholders' Equity + Sales Revenue O Increase Buildings by $987500 and decrease Cash by $987500 O Increase Buildings by $980700, increase Prepaid Insurance by $6800, and decrease Cash by $987500 Expenses O Increase Buildings by $950000, increase Closing Costs by $37500, and decrease Cash by $987500 O Increase Buildings by $950000, increase by $30700, increase Prepaid Insurance by $6800, and decrease Cash by $987500