At January 1, 2022, 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 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 2022, the following selected transactions occurred:

Apr. 1		Purchased land for $5 million. Paid $1 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 $4 million when originally purchased on January 1, 2014.
June 1		Sold land for $4 million. Received $870,000 cash and accepted a 3-year, 5% note for the balance. The land cost $2 million when purchased on June 1, 2016. Interest on the note is due annually each June 1.
July 1		Purchased equipment for $2 million cash.
Dec. 31		Retired equipment that cost $1 million when purchased on December 31, 2012. No proceeds were received

Prepare a tabular summary that includes the property, plant, and equipment balances as of January 1, 2022. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

		Assets															=	Liabilities			+	Stockholders' Equity
																								Retained Earnings
		Cash	+	Notes Rec.	+	Interest Rec.	+	Land	+	Buildings	-	Accum. Depr. - Bldgs.	+	Equipment	-	Accum. Depr. - Equip.	=	Interest Payable	+	Notes Payable	+	Common Stock	+	Revenue	-	Expense	-	Dividend
Jan. 1								23450000		97200000		-61750000		150100000		-53850000

Record the above transactions in the tabular summary from part (a). (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

		Assets															=	Liabilities			+	Stockholders' Equity
																								Retained Earnings
		Cash	+	Notes Rec.	+	Interest Rec.	+	Land	+	Buildings	-	Accum. Depr. - Bldgs.	+	Equipment	-	Accum. Depr. - Equip.	=	Interest Payable	+	Notes Payable	+	Common Stock	+	Revenue	-	Expense	-	Dividend
Jan. 1								$23,450,000		$97,200,000		$(61,750,000)		$150,100,000		$(53,850,000)
Apr. 1
May 1
May 1
June 1
July 1
Dec. 31
Dec. 31