Pinewood Company purchased two buildings on four acres of land. The lump-sum purchase price was $1,700,000. According to independent appraisals, the fair values were $810,000 (building A) and $360,000 (building B) for the buildings and $630,000 for the land. Required: Determine the initial valuation of the buildings and the land. Initial Valuation Asset Building A Building B Land Total S 0