Marigold Corporation prepares financial statements in accordance with IFRS. Selected accounts included in the property, plant, and equipment section of the company's statement of financial position at December 31, 2019, had the following balances: Land $300,050 Land Improvements 140,270 Buildings 1,100,010 Equipment 960,330 During 2020, the following transactions occurred: 1. A tract of land was acquired for $150,070 as a potential future building site. 2. A plant facility consisting of land and a building was acquired from Knorman Corp. for use in production in exchange for 19.540 of Marigold's common shares. The most recent sale of Marigold's common shares took place one month earlier, when 3,820 of Marigold's common shares sold for $57 per share. The plant facility was carried on Knorman's books at $110,010 for land and $320,210 for the building at the exchange date. At the exchange date, a reliable, independent valuator determined the fair value of the land and building to be $230.110 and $690.290 respectively.