At December 31, 2017, Grouper Corporation reported the following plant assets. $ 3,783,000 Land $26,570,000 Buildings 15,037,425 11,532.575 Less: Accumulated depreciation-buildings 50,440,000 Equipment 44.135.000 6,305,000 Less: Accumulated depreciation-equipment $59,450.575 Total plant assets During 2018, the following selected cash transactions occurred. Purchased land for $2,774,200. Apr Sold equioment that cost $756,600 when purchased on January 1, 2011. The equipment was sold for $214.370 May 1 Sold land for $2.017,600. The land cost $1,261,000. June Purchased equipment for $1,387,100. 1 July Dec. 31 Retired equipment that cost $82,700 when purchased on December 31, 2008. No salvage value was received. Prepare a tabular summary that includes the plant asset accounts and balances shown on the December 31, 2017, balance sheet, (1f a transactien causes a decrease in Assets, LiablWtles or Stockholders Equity, plas negative sign (or parentheses) in frent of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Steckholders Equity Liabilities Retained Earnings Assets Dividend Revenue Expenser Common Stock Accum. Depr.-Equip. Equipment Accum. Depr, Bidgs. Buildings Land Cash tter the 2018 trenstions in the tabr summary from pert () Grouper uses straight-ine depreciatiion for buldings and eque The builings are estimated to have e 40-rear useful ife and no salvage value; the equipm useful ife and no salvage value. Update depreciation on assets dsposed of at the time of sale or retirement ( a transection ceuses a decrease in Assets, Labities or Steckholders Eguity, place a negative sign (or Bal amount entered for the particular Asset, Liabinty or Equity item that was reduced) Stockholders Equity Liabilities Assets Retained Earnings Dividend Expense Revenue Common Steck Accum. Depr.-Bidgs,+ Equipment Accum. Deer, Equip, Buildings Cash Landi Apr. 1 May 1 May June 1 buly 1 Dec 31 Dec. 31 Dec. 31 Record adjustments to accounts for depreciation for 2018. (If a transaction causes a decrease in Assets, Liabilities or Stockholders Equlty, place a negative sign (or parentheses) in front of the amount entered fou or Equity item that was reduced.) Stockholders Equity Assets Liabilities Retained Earnings - Accum. Depr.-Bidgs. + Equipment Accum. Depr. - Equip, +Common Stock Cash Revenue Expense Dividend Land Buildings Bal. e Apr. 1 May 1 May 1 June 1 July 1 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Prepare the plant assets section of Grouper's balance sheet at December 31, 2018. (List Plant Assets in order of Land, Building and Equipment.) GROUPER CORPORATION Partial Balance Sheet Ouestion Aluemets: A ft 5 used. At December 31, 2017, Grouper Corporation reported the fellowing plant assets Land $3,783.000 tuldngs s26.570,000 Less: Accumulated deprecation-buildings 15,037,425 11,532,575 tquipment 50.440,000 Less: Accumulated degrecation-equipments 6,305,000 4,135.000 $59,450,575 Total plant assets During 2018, the folowing selected cash bransactions occurred Apr Purchased land for $2,774,200 Sold equipmert that cost $754.600 when purthased on January 1, 2011. May The eovipment was sold for $214,370 June 1 Sold and for s2.017,600 The land cost $1,261,000 ly Purchased equement for $1,387,100. Retired equipment that cost S882,700 when purchased on December 31, 2008. o salvage value was receved Dec 31 nepative agn (ar parentheses) in frant of the ameunt ent shom an the December 31, 2017, bace h (a trn n c derase in Aesets L ee r SteckelderEety pace the particular Asset, Liabiley or Equity ite that was reduced) Prepare a tabular summary that includes the plant asset accounts and Assets Stockholders Equity Liabilities Retained Eamings Accum, Depr Bidgs qupment Accum, Depr. Equip, Cash Land Buildings Common Stock Revenue Expense Dividend Sal. Enter the 2018 transactions in the tabular summary from part (a). Grouper uses straighe-ine deprecaton for butdngs and equipment. The buidings are estimated to have a 43-year useful ie and no slvage velue; the equvement sel ife and ne sahage value Update deprecation an asses disposed of et the tme of sele or retirement (ifa transactin cuses a decrease in Assets, Liabinles ar Stockhalders Equity, piacea nepative sign (er pare amount entered for the particular Asset, Liabiey er Equity tem that was reduced. Assets Steckhoiders Eeuity Liabilities Retained Earmings Aceum. Dep. Bidgs Accum, Depr, Eqip Comman Stack Cash Land Budings + Equipment Revenue Expens Dividend Ba Apr. 1 May 1 May 1 June 1 July 1 Dec. 31 Dec. 31 MacBook Pro per Corperation reported the following plant assets $3,783,000 $26.570.000 tion-tuldngs 15,037,425 11.532.575 sa,640,000 44,135.000 on-equpment 6,305,000 $59,450.575 ected cash transactions occurred. or $2.774.200. at cest $756,400 when purchased on January 1, 2011. The equipment was sold for $214,370. 017,600. The Ind cost $1,264,000 ment for $.387.100. thar cost $882,700 when purchased on December 31, 2008. No salvage value was receved. hat includes the plant asset accounts and balances shown on the December 31, 2017, balance sheet. (If a transaction causes a decrease ine Assets, Labiities or Stockholders Equity, place a eses) in front of the amoust entered for the particular Aaset, Liability or Equity item that was reduced.) Assets Uabiities Stockholders' Equity Retained Earnings - Accem. Depr. Bldgs Accum. Depr. Equip. Land Buildings tquipment Common Stock 4 Revesue Expense Dividend the tabular summary from pert (a). Grovger uses straight-ine depreciation for buldings and equpment. The buildings are estimated to have a 40-yeer useful ife and no salvage value; the equipment is estimated to have a 10-year e Update deprecianion on assets disposed of at the time of sale or retirement. (r a transaction cases a decrease in Assets, Llabilities er Stockholders Equity, place a negative sign (or parentheses) in front of the ticular Asset Liebiity or Eouity item that was reduced,) Liabiities+ Assets Stockhalders Equity Retaised Eareings Buildings Accum. Depr.-Bidgs.+Equipment Land .Common Stock + Accum. Depr. Equip. Revenue Dividend Expense Dec. 31 Dec. 31 Record adjustments to accounts for depreciation for 2018. (If a transaction causes a decrease in Assets, Liabilities or Stockholders Equityy, place a negative sign (ar parentheses) in front of the amount entered for t or Equity item that was reduced.) Stackholders Equity Uabiities Assets Retained Earnings Expense Dividend -Accum. Depr,-Bldgs. +Equipment: Accum. Depr. Equip, +Commen Stock+ Revenue Buildings Cash Land + Bal. Apr. 1 Hay 1 Hay 1 June 1 ly 1 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Prepare the plant assets section of Grouper's balance sheet at December 31, 2018. (List Plant Assets in order of Land, Bailding and Equipment.) GROUPER CORPORATION Partial Balance Sheet reciation for 2018, (IT a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a nepative sign (or parentheses) in front of the amount entered for the particular Asset, Liability Stockholders Equity Liabilities Assets Retained Earnings Dividend +Common Steck+ Expense Revenue Equlpment: Accum. Depr. Equip. Accum. Depr.- Bidgs. Buldings uper's balance sheet et December 31, 2018. (List Plant Assets in order of Land, Building and Equipment.) GROUPER CORPORATION Partial Balance Sheet