Problem 10-5A At December 3 2017, Grand Company reported th following plant assets. Land 4,360,000 Buildings $28,130,000 Less: Accumulated depreciation-buildings 12,490,000 5,640,000 48,640,000 43,350,000 Less: Accumulated depreciation-equipment 5,290,000 $63,350,000 Total plant assets During 2018, the following selected cash transactions occurred. April 1 Purchased land for $2,050,000. Sold $1,020,000 hen purchased 2014. The equ sold for $612,000. May June 1 Sold land purchased on June 2008 for $1,560,000. The land cost $403,000. July 1 purchased equipment for $2,580,000 Dec. 31 Retired equipment that cost $490,000 when purchased on December 31, 2008. No salvage value was received