Refer to the Doctors Smith and Brown Balance Sheet on page 544. Note that the Property, Plant, and Equipment category are represented net of depreciation, but Land is not. Why would this be so?

544 EXAMPLES AND EXERCISES, SUPPLEMENTAL MATERIALS, AND SOLUTIONS 70,000 Doctors Smith and Brown Balance Sheet March 31,2_ Assets Current Assets Cash and cash equivalents 25,000 Patient accounts receivable 40,000 Inventories-supplies and drugs 5,000 Total Current Assets Property, Plant, and Equipment Buildings and Improvements 500,000 Equipment 800,000 Total 1,300,000 Less Accumulated Depreciation (480,000) Net Depreciable Assets 820,000 Land 100,000 Property, Plant, and Equipment, Net Other Assets Total Assets Liabilities and Capital Current Liabilities Current maturities of long-term 10,000 debt Accounts payable and accrued 20,000 expenses Total Current Liabilities Long-Term Debt 180,000 Less Current Portion of Long-Term Debt Net Long-Term Debt (10,000) Total Liabilities Capital Total Liabilities and Capital 920,000 10,000 1,000,000 30,000 170,000 200,000 800,000 1,000,000 Doctors Smith and Brown Statement of Changes in Capital for the Three Months Ended March 31, 2 Beginning Balance Net Income Ending Balance $720,000 80,000 $800,000