On January 2, 2023, Williams Company purchased land that cost $890,000, a building on the land that cost $690,000, and equipment that cost $58,000. The building has an estimated useful life of 30 years. The equipment has an estimated useful life of 5 years. Required: Prepare the property_plant, and equipment section of the balance sheet as of December 31, 2023. Note: Use straight-line depreciation with no salvage value