Problem 9-2A At December 31, 2017, Ayayai Corporation reported the fallowing plant assets. 3,003,000 $26,510,000 Buildings Less: ACcumulated depreciation- buildings Equipment Less: ACcumulated depreciation- equipment Total plant assets 11,936,925 14,573,075 40,040,000 5,005,000 35,035,000 During 2018, the following selected cash transactions occurred Apr Purchased land for $2,202,200. May 1 Sold equipment that cost $600,600 when purchased on January 1, 2011. The equipment was sold for $170,170. June 1 Sold land for $1,601,600. The land cost $1,001,000. July 1 Purchased equipment for $1,101,100. Dec. 31 Retired equipment that cost $700,700 when purchased on December 31, 2008. No salvage value was received