At January 1, 2022. Orlole Company reported the following property, plant, and equipment accounts: Accumulated depreciation-buildings $62,700,000 Accumulated depreciation-equipment 54.100.000 Buildings 97.400,000 Equipment 150,900,000 23,000,000 Land The company uses straight-line depreciation for buildings and equipment, its year-endis 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 and 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 $330.000 cash. The equipment cost $3 million when originally purchased on January 1, 2014 June 1 Sold land for $4 million. Received $900,000 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, (a) 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 for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Cash Notes Rec Interest Rec. Lar Jan. 1 $ $ e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above (a) 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 for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Land Buildings Accum. Depr.- Bldgs. Equipment $ $ $ e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above 11 (a) 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 for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities Equipment Accum. Depr.- Equip Interest Payable + Notes Payable $ $ $ e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer (b) (a) 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 for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Revenue Expense Common Stock Dividend $ e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit