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 $810,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building, $478,400; land, $266,800; land improvements, $27,600; and four vehicles, $147,200. The companys fiscal year ends on December 31.

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