At December 31, 2022, Pina Colada Company reported the following as plant assets. During 2023 , the following selected cash transactions occurred. April 1 Purchased land for $2,140,000. May 1 Sold equipment that cost $930,000 when purchased on January 1,2019 . The equipment was sold for $558,000. June 1 Sold land purchased on June 1, 2013 for $1,590,000. The land cost $402,000. July 1 Purchased equipment for $2,480,000. Dec. 31 Retired equipment that cost $517,000 when purchased on December 31, 2013. At December 31, 2022, Pina Colada Company reported the following as plant assets. During 2023 , the following selected cash transactions occurred. April 1 Purchased land for $2,140,000. May 1 Sold equipment that cost $930,000 when purchased on January 1,2019 . The equipment was sold for $558,000. June 1 Sold land purchased on June 1, 2013 for $1,590,000. The land cost $402,000. July 1 Purchased equipment for $2,480,000. Dec. 31 Retired equipment that cost $517,000 when purchased on December 31, 2013