Problem 9-2A At December 31, 2014, Navaro Corporation reported the following plant assets. Land $ 5,289,000 Buildings $32,900,000 Less: Accumulated depreciationbuildings 21,023,775 11,876,225 Equipment 70,520,000 Less: Accumulated depreciationequipment 8,815,000 61,705,000 Total plant assets $78,870,225 During 2015, the following selected cash transactions occurred. Apr. 1 Purchased land for $3,878,600. May 1 Sold equipment that cost $1,057,800 when purchased on January 1, 2008. The equipment was sold for $299,710. June 1 Sold land for $2,820,800. The land cost $1,763,000. July 1 Purchased equipment for $1,939,300. Dec. 31 Retired equipment that cost $1,234,100 when purchased on December 31, 2005. No salvage value was received. Record adjusting entries for depreciation for 2015.

Prepare the plant assets section of Navaros balance sheet at December 31, 2015. (Hint: You may wish to set up T accounts, post beginning balances, and then post 2015 transactions.) (List Plant Assets in order of Land, Building and Equipment.)