At December 31,2024 , certain accounts included in the property, plant, and equipment section of Kingbird Company's balance sheet had the following balances. During 2025 , the following transactions occurred. 1. Land site number 621 was acquired for $850,100. In addition, to acquire the land Kingbird paid a $55,700 commission to a real estate agent. Costs of $38,700 were incurred to clear the land. During the course of clearing the land, timber and gravel were recovered and sold for $22,400. 2. A second tract of land (site number 622) with a building was acquired for $423,400. The closing statement indicated that the land value was $302,200 and the building value was $121,200. Shortly after acquisition, the building was demolished at a cost of $40,900. A new building was constructed for $330,100 plus the following costs. The building was completed and occupied on September 30,2025. 3. A third tract of land (site number 623 ) was acquired for $644,400 and was put on the market for resale. 4. During December 2025 , costs of $88,400 were incurred to improve leased office space. The related lease will terminate on December 31, 2027, and is not expected to be renewed. (Hint: Leasehold improvements should be handled in the same manner as land improvements.) 5. A group of new machines was purchased under a royalty agreement that provides for payment of royalties based on units of production for the machines. The invoice price of the machines was $87,700, freight costs were $3,300, installation costs were $2,500, and royalty payments for 2025 were $17,500. (a) Calculate the balance at December 31, 2025 in each of the following balance sheet accounts. Disregard the related accumulated depreciation accounts