stuated for Carver Inc. purchased a building and the land on which the building is situated for a total cost of $855,700 cash. The land was 3d th bucing a 974788ich appraised at $236,173 and the building at $747,882. Required b. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building. . Would the company recognize a gain on the purchase? d. Record the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs b Required B Required CRequired D Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building. (Round intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) Allocated Cost Land Total Required B Required C