At January 1.2022. Carla Vista Co. reported the following groperty. plant, and equipment accounts: The company uses straight-line depreciation lor buildings and equipment, its year-end is Decenber 31 . and it makes adjustments annually. The buildings are estimated to have a 40 -year useful life and no salvage value, the equipment is estinated to have a 10 - vear usetul life and no salvage value. Durins 2022, the following selected tranaktians occurred: During 2022 , the following selected transactions occurred: Apr. 1 Purchased and for $5 mililion. Pald 51 milioneash and issued a 3 - year, 6% note payable for the talance. Interest on the note is payable annually esch Aptil 1. May 1 Sold equipment for $270.000 cash. The equipment cost. 52 miltion when ariginally purchased on danuary 1.2014 June 1 Sold land for $4 million. Received 5780,000 eath and accepted a 3-year, 5% note for the balance. The land cont 52 mition when purchased on June 1,2016. Interest on the note is due annuallyeach June 1. July 1 Purchased equipment for $2 miltion cash: Dec.31 "Retired equipment that cost $1 milion when purchased on December 31, 2012. No proceeds were recelved. Cash + NotesRec + + Interest Hec + Lani san1 Ape 13 May 1 May 1 June 1 July 1 Dec 31 Dec. 31 Land+Bulldines$21,850,000Accum.Depr,-Bldss.$97,300,000$(62,000,0001Equlpment Retained Earnings Revenue Expense Dwidend 5 5