At December 31, 2017, Pina Corporation reported the following plant assets 4,083,000 Land Buildings Less: Accumulated depreciation-16,229,925 buildings Equipment Less: Accumulated depreciation equipment Total plant assets $26,620,000 10,390,075 54,440,000 6,805,000 47,635,000 $62,108,075 During 2018, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,994,200 May 1 Sold equipment that cost $816,600 when purchased on January 1, 2011. The equipment was sold for $231,370 June 1 Sold land for $2,177,600. The land cost $1,361,000 July 1 Purchased equipment for $1,497,100 Dec. 31 Retired equipment that cost $952,700 when purchased on December 31, 2008. No salvage value was received