At December 31, 2022, Sheffield Corporation reported the following plant assets. Land $3,798,000 Buildings $26,660,000 Less: Accumulated depreciation-buildings 15,097,050 11,562,950 Equipment 50,640,000 Less: Accumulated depreciation-equipment 6,330,000 44,310,000 Total plant assets $59,670,950 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,785,200. May 1 June 1 Sold equipment that cost $759,600 when purchased on January 1, 2016. The equipment was sold for $215,220. Sold land for $2,025,600. The land cost $1,266,000. July 1 Purchased equipment for $1,392,600. Dec 31 Retired equipment that cost $886.200 when purchased on December