At December 31, 2017, Flounder Corporation reported the following plant assets.

Land

$ 5,883,000

Buildings

$26,560,000

Less: Accumulated depreciationbuildings

23,384,925

3,175,075

Equipment

78,440,000

Less: Accumulated depreciationequipment

9,805,000

68,635,000

Total plant assets

$77,693,075

During 2018, the following selected cash transactions occurred.

Apr. 1 Purchased land for $4,314,200.

May 1 Sold equipment that cost $1,176,600 when purchased on January 1, 2011. The equipment was sold for $333,370.

June 1 Sold land for $3,137,600. The land cost $1,961,000.

July 1 Purchased equipment for $2,157,100.

Dec. 31 Retired equipment that cost $1,372,700 when purchased on December 31, 2008. No salvage value was received.

Enter the 2018 transactions in the tabular summary from part (a). Flounder uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful ife and na salvace value; the equipment a estimated to have a 10-year useful life and na salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets = Liabilities Stockholders' Equity Retained Earnings + Land + Buildings - Accum. Depr.- bldgs. + Equipment - Accum. Depr.- Equip Dividend 5,303,000 $ 23, T-314,200 4,314,200 Depreciation expense T 1312120 TDepreciation expense Gainon disposal Dec. 31 -2,157,100 1 Depreciation expense 4-2,272,700 372