At December 31,2025 , Sheffield Corporation reported the following plant assets. During 2026, the following selected cash transactipns occurred. Apr. 1 Purchased land for $3,896,200, May 1 Sold equipment that cost $1,062,600 when purchased on January 1, 2019. The equipment was sold for $301,070. June 1 Sold land for $2,833,600. The land cost $1,771,000. July 1 Purchased equipment for $1,948,100 Dec 31 Retired equipment that cost $1,239.700 when purchased on December 31, 2016. No salvage value was recelved: At December 31,2025 , Sheffield Corporation reported the following plant assets. During 2026, the following selected cash transactipns occurred. Apr. 1 Purchased land for $3,896,200, May 1 Sold equipment that cost $1,062,600 when purchased on January 1, 2019. The equipment was sold for $301,070. June 1 Sold land for $2,833,600. The land cost $1,771,000. July 1 Purchased equipment for $1,948,100 Dec 31 Retired equipment that cost $1,239.700 when purchased on December 31, 2016. No salvage value was recelved