On January 2, 2023, Wilson Company purchased land that cost $400,000, a building on the land that cost $1,350,000, and equipment that cost $28,000. The building has an estimated useful life of 27 years. The equipment has an estimated useful life of 7 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.