Carver Inc. purchased a building and the land on which the building is situated for a total cost of $859700 cash. The land was appraised at $168,071 and the building at $820,584. Required b. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building c. 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 below. Required B Required C Required D Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the buildir intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount Allocated Cost Required C > Carver Inc. purchased a building and the land on which the building is situated for a total cost of $859700 cash. The land was appraised at $168,071 and the building at $820,584 Required b. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building c. 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 below. Required B Required C Required D Would the company recognize a gain on the purchase? Would the company recognize a gain on the purchase? Required D Required B SLO 01 Carver Inc. purchased a building and the land on which the building is situated for a total cost of $859700 cash. The land was appraised at $168,071 and the building at $820,584. Required b. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building. c. 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 below. Required B Required C Required D Record the purchase in a horizontal statements model. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an inve or a financing activity (FA). If an element is not affected by the event, leave the cell blank. Enter any decreases to account balances and cash ou minus sign. Round intermediate calculations to 2 decimal places and final answers to the nearest whole number.) CARVER INC. Horizontal Statements Model Balance Sheet Income Statement Net -- Liabilities + Equity Revenue - Expense Income - Building Statement of Cash Flows Assets Land Cash +