At December 31, 2017, Martinez Corporation reported the following plant assets. $3,783,000 Land Buildings Less: Accumulated depreciation- buildings Equipment Less: Accumulated depreciation- equipment Total plant assets $26,590,000 15,037,425 11,552,575 50,440,000 6,305,000 44,135,000 $59,470,575 During 2018, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,774,200. May 1 Sold equipment that cost $756,600 when purchased on January 1, 2011. The equipment was sold for $214,370. June Sold land for $2,017,600. The land cost $1,261,000. July 1 Purchased equipment for $1,387,100. Dec. 31 Retired equipment that cost $882,700 when purchased on December 31, 2008. No salvage value was received