At December 31, 2022, Pronghorn Company reported the following as plant assets. Land Buildings $4,320,000 $29,800,000 Less: Accumulated depreciation-buildings Equipment 10,570,000 19,230,000 47,520,000 Less: Accumulated depreciation-equipment 4,910,000 42,610,000 Total plant assets $66,160,000 During 2023, the following selected cash transactions occurred. April 1 Purchased land for $2,000,000. May 1 June 1 July 1 Dec. 31 Sold equipment that cost $840,000 when purchased on January 1, 2019. The equipment was sold for $504,000. Sold land purchased on June 1, 2013 for $1,430,000. The land cost $393,000. Purchased equipment for $2,440,000. Retired equipment that cost $480,000 when purchased on December 31, 2013.