Land improvements 305,620Buildings 2,401,300Equipment 2,095,680 During 2014, the following transactions occurred. 1 A tract of land was acquired for $327,450 as a potential future building site. 2 A plant facility consisting of land and building was acquired from Mendota Company in exchangefor 43,660 shares of Lobo's common stock. On the acquisition date, Lobo's stock had a closingmarket price of $37 per share on a national stock exchange. The plant facility was carried onMendota's books at $240,130 for land and $698,560 for the building at the exchange date. Currentappraised values for the land and building, respectively, are $502,090 and $1,506,270. 3 Items of machinery and equipment were purchased at a total cost of $873,200. Additional costswere incurred as follows. Freight and unloading $28,379Sales taxes 43,660Installation 56,758 4 Expenditures totaling $207,385 were made for new parking lots, streets, and sidewalks at the. corporation's various plant locations. These expenditures had an estimated useful life of 15 years.5 A machine costing $174,640 on January 1, 2006, was scrapped on June 30, 2014. Double-declining-. balance depreciation has been recorded on the basis of a 10-year life.6 A machine was sold for $43,660 on july 1, 2014. Original cost of the machine was $96,052 onJanuary 1, 2011, and it was depreciated on the straight-line basis over an stimated useful lifeof 7 years and a salvage value of $4,366. (a) Prepare a detailed analysis of the changes in each of the following balance sheet accounts for 2014.(Hint: Disregard the related accumulated depreciation accounts.) Land Landimprovements '—'—Buildings I—'— Equipment