Question 1 (5 marks) On March 31, 2024, Finland Industries purchased assets for $2,600,000cash. Before completing the purchase, Finland had an appraisal completed to determine the relative value of each of the assets included in the purchase price. The appraisal indicated that the fair value of the land, if purchased separately, would be $377,000, the building's value is $1,939,600, the manufacturing equipment $202,800, and the office equipment $65,000. In addition to the land, building and equipment, the purchase price includes inventory with a net realizable value of $15,600. Instructions Record the purchase on March 31, 2024 (round percentages to one decimal place) Allocation of cost based on fair values