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, 2016, 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, $444,150; land, $264,600; land improvements, $47,250; and four vehicles, $189,000. The company's fiscal year ends on December 31