Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2015, at a total cash price of $800,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building, $477,600; land, $288,550; land improvements, $49,750; and four vehicles, $179,100. The companys fiscal year ends on December 31.

Prepare a table to allocate the lump-sum purchase price to the separate assets purchased.

percent of total appraised value and apportioned cost-How do you figure those?