At December 31, 2019, certain accounts included in the property, plant, and equipment section of Monty Company's balance sheet had the following balances. Land $237,700 Buildings 905,300 Leasehold improvements 665,200 Equipment 882,900 During 2020, the following transactions occurred. 1. 2. Land site number 621 was acquired for $853,100. In addition, to acquire the land Monty paid a $55,700 commission to a real estate agent. Costs of $42,200 were incurred to clear the land. During the course of clearing the land, timber and gravel were recovered and sold for $15,500. A second tract of land (site number 622) with a building was acquired for $418,900. The closing statement indicated that the land value was $298,400 and the building value was $120,500. Shortly after acquisition, the building was demolished at a cost of $40,600. A new building was constructed for $329,400 plus the following costs.