Assets Bal. Cash Land Buildings Apr. 1$ $3,798,000 $26,660,000 May 1 May 1 June 1 July 1 Dec. 31 Dec. 31 Prepare a tabular summary that includes the plant asset accounts and balances shown on the December 31, 2027, balance sheet. - Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. - Increases in expenses and losses require a negative sign or parentheses. - Increases in Accumulated Depreciation require a negative sign or parentheses. - Decreases in Accumulated Depreciation are entered as postive amounts. eTextbook and Media List of Accounts Attempts: 1 of 2 used b) Enter the 2028 transactions in the tabular summary from part (a). Sheffield uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40 -year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. - Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. - Increases in expenses and losses require a negative sign or parentheses. - Increases in Accumulated Depreciation require a negative sign or parentheses. - Decreases in Accumulated Depreciation are entered as postive amounts. Stockholders' Equity Common Stock + At December 31,2027 , Sheffield Corporation reported the following plant assets. During 2028, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,785,200. May 1 Sold equipment that cost $759,600 when purchased on January 1,2021 . The equipment was sold for $215,220. June 1 Sold land for $2,025,600. The land cost $1,266,000. July 1 Purchased equipment for $1,392,600. Dec. 31 Retired equipment that cost $886,200 when purchased on December 31, 2018. No salvage value was received