Question 4 of 5 - /20 E View Policies Current Attempt in Progress Selected accounts included in the property, plant, and equipment section of Pronghorn Corporation's balance sheet at December 31, 2019, had the following balances. Land $306,000 142,800 Land improvements Buildings Equipment 1,122,000 979,200 During 2020, the following transactions occurred. 1. 2. Atract of land was acquired for $153,000 as a potential future building site. A plant facility consisting of land and building was acquired from Mendota Company in exchange for 20,400 shares of Pronghorn's common stock. On the acquisition date, Pronghorn's stock had a closing market price of $37 per share on a national stock exchange. The plant facility was carried on Mendota's books at $112,200 for land and $326,400 for the building at the exchange date. Current appraised values for the land and building, respectively, are $234,600 and $703,800. Items of machinery and equipment were purchased at a total cost of $408,000. Additional costs were incurred as follows. 3. Freight and unloading $13,260 Sales taxes 20,400 Installation 26,520 4. 5. Expenditures totaling $96,900 were made for new parking lots, streets, and sidewalks at the corporation's various plant locations. These expenditures had an estimated useful life of 15 years. A machine costing $81,600 on January 1, 2012, was scrapped on June 30, 2020. Double-declining-balance depreciation has been recorded on the basis of a 10-year life. A machine was sold for $20,400 on July 1, 2020. Original cost of the machine was $44,880 on January 1, 2017, and it was depreciated on the straight-line basis over an estimated useful life of 7 years and a salvage value of $2,040. 6. (a) Calculate the balance at December 31, 2020 in each of the following balance sheet accounts. (Hint: Disregard the related accumulated depreciation accounts.) Balance at December 31, 2020 Land $ Land Improvements $ Buildings $ Equipment $