At December 31, 2022, Concord Corporation reported the following plant assets. Land $4,068,000 Buildings $26,680,000 Less: Accumulated depreciation-buildings 16,170,300 10,509,700 Equipment 54,240,000 Less: Accumulated depreciation-equipment 6,780,000 47,460,000 Total plant assets $62,037,700 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,983,200. May 1 Sold equipment that cost $813,600 when purchased on January 1, 2016. The equipment was sold for $230,520. June 1 Sold land for $2,169,600. The land cost $1,356,000. July 1 Purchased equipment for $1,491,600. Dec. 31 Retired equipment that cost $949,200 when purchased on December 31, 2013. No salvage value was received.