At January 1, 2022, Sandhill Co. reported the following property, plant, and equipment accounts:

Accumulated depreciationbuildings		$60,700,000
Accumulated depreciationequipment		54,600,000
Buildings		97,400,000
Equipment		150,800,000
Land		21,000,000

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 $5 million. Received $900,000 cash and accepted a 3-year, 5% note for the balance. The land cost $1 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 (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)