At January 1, 2021, Blossom Limited reported the following property, plant, and equipment accounts: 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 residual value; the equipment is estimated to have a 10 -year useful life and no residual value. During 2021, the following selected transactions occurred: Apr. 1 Purchased land for $4,340,000. Paid $1,170,000 cash and issued a three-year, 6% mortgage payable for the balance. Interest on the mortgage is payable annually each April 1. May 1 Sold equipment for $310,000 cash. The equipment cost $2,957,100 when originally purchased on January 1,2013. June 1 Sold land for $3,493,800. Received $964,200 cash and accepted a three-year, 5% note for the balance. The land cost $1,500,000 when purchased on June 1,2015 . Interest on the note is due annually each June 1. July 1 Purchased equipment for $2,200,000 cash. Dec. 31 Retired equipment that cost $1,000,000 when purchased on January 1,2012 . No proceeds were received. 31 Tested land for impairment and found that its fair value was $21,200,000. Prepare the property, plant, and equipment section of the company's statement of financial position at December 31 . (List