Plant acquisitions for selected companies are as follows. 1. Coronado Industries Inc. acquired land, buildings, and equipment from a bankrupt company, Torres Co., for a lump-sum price of $938,000. At the time of purchase, Torres's assets had the following book and appraisal values. Book Values Appraisal Values Land $268,000 $201,000 Buildings 335,000 469,000 Equipment 402,000 402.000 To be conservative, the company decided to take the lower of the two values for each asset acquired. The following entry was made. Land 201,000 Buildings 335,000 Equipment 402.000 Cash 938,000