At January $1,2027,$ Crane Company reported the following property, plant, and equipment accounts:

Accumulated depreciation $-$ Buildings $$63600000$

Accumulated depreciation $-$ Equipment $$53350000$

Buildings $$97400000$

equipment $$150600000$

Land $$23900000$

The company uses straight$-$line depreciation for buildings and equipment, its year$-$end is December $31,$ and it makes adjustments

annually. The buildings are estimated to have a $40-$year useful life and no salvage value; the equipment is estimated to have a $10-$year

useful life and no salvage value.

During $2027,$ the following selected transactions occurred:

Apr. $1,$ Purchased land for $$4\mathrm{.}7$ million. Paid $$1\mathrm{.}175$ million cash and issued a $3-$year, $6\%$ note payable for the balance. Interest

on the note is payable annually each April $1.$

May $1$ Sold equipment for $$220,000$ cash. The equipment cost $$4\mathrm{.}08$ million when originally purchased on January $1,2019.$

June $1,$ Sold land for $$4\mathrm{.}98$ million. Received $$870,000$ cash and accepted a $3-$year, $5\%$ note for the balance. The land cost $$1\mathrm{.}6$

million when purchased on June $1,2021.$ Interest on the note is due annually each June $1.$

July $1,$ Purchased equipment for $$2\mathrm{.}2$ million cash.

Dec. $31$ Retired equipment that cost $$1$ million when purchased on December $31,2017.$ No proceeds were received.

$($a$)$

Prepare a tabular summary that includes the property, plant, and equipment balances as of January $1,2027.$

Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses.

Increases in expenses and losses require a negative sign or parentheses.

Increases in Accumulated Depreciation require a negative sign or parentheses.

Decreases in Accumulated Depreciation are entered as positive amounts.