Some cells are merged. Using Excel to Value Assets Purchased at a Lump-Sum Price Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area or this work area as indicated. PROBLEM Butcher Inc. purchased land, building, and equipment from Sutter Co. Information concerning the purchase follows. Cash payment for assets $406,000 At what amounts should each of the three assets be recorded by Butcher? Estimated fair values: Land 95,000 Building 250,000 Recorded Amount Equipment 110,000 Fair Value Land $95,000 Building 250,000 Equipment 110,000 $455,000