At December 31, 2022, Novak Corp. reported the following plant assets. Land $ 3,710,000 Buildings $27,420,000 Less: Accumulated depreciation-buildings 12,339,000 15,081,000 Equipment 47,200,000 Less: Accumulated depreciation-equipment 5,900,000 41,300,000 Total plant assets $60,091,000 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,030,000. May 1 June 1 July 1 Dec. 31 Sold equipment that cost $960,000 when purchased on January 1, 2016. The equipment was sold for $288,000. Sold land for $1,500,000. The land cost $997,000. Purchased equipment for $1,097,000. Retired equipment that cost $703,000 when purchased on December 31, 2013. No salvage value was received.