At December 31, 2017, Sarasota Corporation reported the following plant assets. $ 5,898,000 $26,650,000 23,444,550 3,205,450 Land Buildings Less: Accumulated depreciation- buildings Equipment Less: Accumulated depreciation- equipment Total plant assets 78,640,000 9,830,000 68,810,000 $77,913,450 1 During 2018, the following selected cash transactions occurred. Apr. Purchased land for $4,325,200. Sold equipment that cost $1,179,600 when purchased on January 1, 2011. The equipment was sold for $334,220. June Sold land for $3,145,600. The land cost $1,966,000. July Purchased equipment for $2,162,600. Dec. 31 Retired equipment that cost $1,376,200 when purchased on December 31, 2008. No salvage value was received. May 1 1 1 Enter the 2018 transactions in the tabular summary from part (a). Sarasota uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no 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 (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Stockholders' Equity Retained Earnings Revenue Expense Cash + + Common Stock + Dividend Land $5,898,000 Buildings $26,650,000 - Accum. Depr. - Bldgs. + Equipment $23,444,550 $78,640,000 Accum. Depr. - Equip. = $9,830,000 Bal. Apr. 1 -4325200 4325200 $ $ $ $1 $ May 1 -39320 -39320 Depreciation expense X May 1 334220 -1179600 845380 0 Gain on disposal June 1 3,145,600 -1,966,000 1179600 Gain on disposal July 1 -2,162,600 2,162,600 P! Dec. 31 -137620 - 1376201 Depreciation expense Dec. 31 -1376200 1376200