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At December 31, 2025, Indigo Corporation reported the following plant assets. Land $5,358,000 Buildings $26,710,000 Less: Accumulated depreciation-buildings 12,019,500 14,690,500 Equipment 71,440,000 Less: Accumulated
At December 31, 2025, Indigo Corporation reported the following plant assets. Land $5,358,000 Buildings $26,710,000 Less: Accumulated depreciation-buildings 12,019,500 14,690,500 Equipment 71,440,000 Less: Accumulated depreciation-equipment 8,930,000 62,510,000 Total plant assets $82,558,500 During 2026, the following selected cash transactions occurred. Apr. 1 Purchased land for $3,929,200. May 1 Sold equipment that cost $1,071,600 when purchased on January 1, 2019. The equipment was sold for $303,620. Sold land for $2,857,600. The land cost $1,786,000. June 1 July 1 Purchased equipment for $1,964,600. Dec. 31 Retired equipment that cost $1,250,200 when purchased on December 31, 2016. No salvage value was received.
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