At December 31, 2022, Swifty Corporation reported the following plant assets. During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $3,192,200. May 1 Sold equipment that cost $870,600 when purchased on January 1, 2016. The equipment was sold for $246,670. June: 1 Sold land for $2,321,600. The land cost $1,451,000. July 1 Purchased equipment for $1,596,100. Dec. 31 Retired equipment that cost $1,015,700 when purchased on December 31,2013 . No salvage value was received. At December 31, 2022, Swifty Corporation reported the following plant assets. During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $3,192,200. May 1 Sold equipment that cost $870,600 when purchased on January 1, 2016. The equipment was sold for $246,670. June: 1 Sold land for $2,321,600. The land cost $1,451,000. July 1 Purchased equipment for $1,596,100. Dec. 31 Retired equipment that cost $1,015,700 when purchased on December 31,2013 . No salvage value was received