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, 2017, at a total cash price of $900,000 for a building, land, land improvements, and four vehicles. The estimates market values of the assets are building, 5608,800; land $297, 600; land improvements, $28,000; and four vehicles, $124, Boo. The company's fiscal year ends on December 31. 1.) Prepare a table to allocate the lump sum purchased Allocation of Total Cost Appraised Valve % of Totally Appraisalve Total cost (Apportioned Cost Building 17x Land Improv. I Vehicles I TOTAL 2.) Prepare the journal entry to record the purchase. - "record the costs of lump-sum purchase" Date General Journal Debit Credit 3.) Compute the depreciation patent of year 2017 on the building using the straight-line method, assuming a 15-year life and a $27,000 sutage verwe. Depreciation expense on building: 4.) Compute the depreciation expense of year 2017 on the land improvements assuming a five-year and double-declining balance depreciation. Depreciation expense on land improvements