At January 1, 2017, Crane Company reported the following property, plant, and equipment accounts:

Accumulated depreciationbuildings		$61,750,000
Accumulated depreciationequipment		53,850,000
Buildings		97,200,000
Equipment		150,100,000
Land		23,450,000

The company uses straight-line depreciation for buildings and equipment, its year-end is December 31, and it makes adjusting entries 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 2017, the following selected transactions occurred:

Apr. 1		Purchased land for $4.90 million. Paid $1.225 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 $230,000 cash. The equipment cost $3.78 million when originally purchased on January 1, 2009.
June 1		Sold land for $3.72 million. Received $870,000 cash and accepted a 3-year, 5% note for the balance. The land cost $1.60 million when purchased on June 1, 2011. Interest on the note is due annually each June 1.
July 1		Purchased equipment for $2.20 million cash.
Dec. 31		Retired equipment that cost $1 million when purchased on December 31, 2007. No proceeds were received. 1)I then need to record the transactions 2) Record adjusting entries required at december 31st 3) prepare a property plant and equipment statement of financial position