The following selected account balances were taken from the general ledger of Vance Corporation as of December 31, 20X7. Examine this information and prepare the property, plant, and equipment section of the company's balance sheet. All accounts listed carry a normal balance.

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Land $ 500,000 Buildings 1,650,000 Equipment 2,860,000 Accumulated depreciation: Buildings 472,000 Accumulated depreciation: Equipment 1,333,400 Depreciation expense: Buildings 125,000 Depreciation expense: Equipment 278,111