Problem 9-2 At December 31, 2017, Monty Corporation reported the following plant assets. Land Buildings buildings Equipment $ 4,683,000 $26,600,000 18,614,925 7,985,075 62,440,000 7,805,000 54,635,000 equipment Total plant assets $67,303,075 During 2018, the following selected cash transactions occurred. Apr. Purchased land for $3,434,200. May Sold equipment that cost $936,600 when purchased on January 1, 2011. The equipment was sold for $265,370. June Sold land for $2,497,600. The land cost $1,561,000. July Purchased equipment for $1,717,100. Dec. 31 Retired equipment that cost $1,092,700 when purchased on December 31, 200B. No salvage value was received