At December 31, 2022, Sarasota Corporation reported the following plant assets. Land $ 5,898,000 Buildings $26,650,000 Less: Accumulated depreciation-buildings 23,444,550 3,205,450 Equipment 78,640,000 Less: Accumulated depreciation-equipment 9,830,000 68,810,000 Total plant assets $77,913,450 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $4,325,200. May 1 Sold equipment that cost $1,179,600 when purchased on January 1, 2016. The equipment was sold for $334,220. June 1 Sold land for $3,145,600. The land cost $1,966,000. July 1 Purchased equipment for $2,162,600. Dec. 31 Retired equipment that cost $1,376,200 when purchased on December 31, 2013. No salvage value was received. Enter the 2023 transactions in the tabular summary from part (a). Sarasota uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Record adjustments to accounts for depreciation for 2023. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Cash Assets Land Buildings Accum. Depr.- Blc $5,898,000 $26,650,000 $(23,444 4,325,200 Bal. Apr. 1 $(4,325,200) May 1 May 1 334,220 June 1 3,145,600 (1,966,000) July 1 Dec. 31 Dec. 31 (2,162,600) Dec. 31 Dec. 31 Record adjustments to accounts for depreciation for 2023. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Buildings Accum. Depr. - Bldgs. + Equipment Accum. Depr. - Equip. $26,650,000 $(23,444,550) $(78,640,000) $(9,830,000) (39,320) (1,179,600) 865,040 2,162,600 (137,620) (1,376,200) 1,376,200 $ Liabilities + + Common Stock + Revenue $ Stockholders' Equity Retained Earnings Expense $19,660 1,179,600 $(39,320) (137,620) Revenue Stockholders' Equity Retained Earnings Expense Dividend $19,660 1,179,600 $(39,320) (137,620) AA Depreciation expense Gain on disposal Gain on disposal Depreciation expense Depreciation expense