At January 1, 2021, Sheridan Limited reported the following property, plant, and equipment accounts: Accumulated depreciationbuildings $65,600,000 Accumulated depreciationequipment 49,100,000 Buildings 96,400,000 Equipment 156,900,000 Land 20,300,000 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 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 $4,210,000. Paid $1,020,000 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 $270,000 cash. The equipment cost $3,021,600 when originally purchased on Jan 1, 2013. June 1 Sold land for $3,288,900. Received $934,500 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. Dec. 31 Tested land for impairment and found that its recoverable value was $20,300,000. c) Prepare the property, plant, and equipment section of the companys statement of financial position at December 31.