At December 31, 2015, Grand Company reported the following as plant assets. $4,335,000 Land $28,931,000 Buildings Less: Accumulated depreciation 13,741,000 15,190,000 buildings Equipment 48,872,000 Less: Accumulated depreciation- 4,965,000 43,907,000 equipment $63,432,000 Total plant assets During 2016, the following selected cash transactions occurred. April 1 Purchased land for $2,153,000 May 1 Sold equipment that cost $975,000 when purchased on January 1, 2012. The equipment was sold for $585,000. June 1 Sold land purchased on June 1, 2006 for $1,410,000. The land cost $394,000. July 1 Purchased equipment for $2,594,000 Dec. 31 Retired equipment that cost $472,000 when purchased on December 31, 2006. No salvage value was received