Journalize equipment transactions related to purchase, sales, retirements and depreciation. At December 31, 2025, Arnold Corporation reported the following plant assets. During 2026, the following selected cash transactions occurred. Apr. 1 Purchased land for $3400,000. May 1 Sold equipment that cost $550,000 when purchased on January 1,2019 . The equipment was sold for $350,000. June 1 Sold land for $2200,000. The land cost $1,500,000. July 1 Purchased equipment for $2200,000. Dec. 31 Retired equipment that cost $800,000 when purchased on December 31,2016 . No salvage value was received. Instructions a Prepare the plant assets section of Arnold's balance sheet at December 31, 2026 and the t accounts |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. Round to two decimals if neede NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells. Partial Balance Sheet December 31, 2026 Plant Assets Land Buildings Less: Accumulated depreciation - buildings Equipment Less: Accumulated depreciation - equipment Total plant assets Land \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline 12/31/23 Bal. & & & \\ \hline \end{tabular} Buildings \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline 12/31/26 Bal. & & & \\ \hline & & & \\ \hline \end{tabular} Equipment \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline 12/31/26 Bal. & & & \\ \hline \end{tabular} Accumulated Depreciation - Buildings \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & \multicolumn{1}{|c|}{12/31/26 Bal. } & \\ \cline { 1 - 2 } & \end{tabular} Accumulated Depreciation - Equipment \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & \multicolumn{1}{|c|}{12/31/26 Bal. } & \\ \hline \end{tabular}