Need Assistance with Closing Balance of Accumulated Depreciation on Equipment ( What is formula/calculation for Balance Sheet?) See Red Boxes Below

t Decembr 3, 2020, Pina Colada Company reported the following as plant assets. and $3,870,000 Buildings $27,080,000 ess: Accumulated depreciation-buildings 10,420,000 16,660,000 quipment 48,520,000 ess: Accumulated depreciation-equipment 4,610,000 43,910,000 $64,440,000 Total plant assets uring 2021, the following selected cash transactions occurred April 1 Purchased land for $2,140,000. May 1 Sold equipment that cost $930,000 when purchased on January 1, 2017. The equipment was sold for $558,000 June 1 Sold land purchased on June 1, 2011 for $1,590,000. The land cost $402,000 July 1 Purchased equipment for $2,480,000 Retired equipment that cost $517,000 when purchased on December 31, 2011. The company received no proceeds related to salvage. ec. 31 Debit Credit Date Account Titles and Explanation |Land Apr. 1 2140000 Cash 2140000 May 1 Depreciation Expense 31000 Accumulated Depreciation-Equipment 31000 (To record depreciation) May 1 Cash 558000 Accumulated Depreciation-Equipment 403000 930000 Equipment Gain on Disposal of Plant Assets 31000 (To record sale of equipment) June 1 Cash 1590000 Gain on Disposal of Plant Assets 1188000 402000 Land July 1 Equipment 2480000 Cash 2480000 Dec. 31 Depreciation Expense 51700 Accumulated Depreciation-Equipment 51700 (To record depreciation) Dec. 31Accumulated Depreciation-Equipment 517000 517000 Equipment (To record retirement of equipment) Account Titles and Explanation Debit Date Credit 541600 Dec. 31Depreciation Expense Accumulated Depreciation-Buildings 541600 (To record building depreciation) Dec. 31 | Depreciation Expense 4831300 Accumulated Depreciation-Equipment 4831300 (To record equipment deprecition) Pina Colada Company Balance Sheet (Partial) December 31, 2021 Property Plant and Equipment 5608000 Land Buildings 27080000 Less 10961600 16118400 Accumulated Depreciation-Buildings Equipment 49553000 Less 4816700 40111700 Accumulated Depreciation-Equipment 68565300 Total Property Plant and Equipment