Selected accounts included in the property, plant, and equipment section of Shamrock Corporations balance sheet at December 31, 2016, had the following balances.

Land $336,000 Land improvements 156,800 Buildings 1,232,000 Equipment 1,075,200

During 2017, the following transactions occurred.

1. A tract of land was acquired for $168,000 as a potential future building site. 2. A plant facility consisting of land and building was acquired from Mendota Company in exchange for 22,400 shares of Shamrocks common stock. On the acquisition date, Shamrocks stock had a closing market price of $37 per share on a national stock exchange. The plant facility was carried on Mendotas books at $123,200 for land and $358,400 for the building at the exchange date. Current appraised values for the land and building, respectively, are $257,600 and $772,800. 3. Items of machinery and equipment were purchased at a total cost of $448,000. Additional costs were incurred as follows.

Freight and unloading $14,560 Sales taxes 22,400 Installation 29,120

4. Expenditures totaling $106,400 were made for new parking lots, streets, and sidewalks at the corporations various plant locations. These expenditures had an estimated useful life of 15 years. 5. A machine costing $89,600 on January 1, 2009, was scrapped on June 30, 2017. Double-declining-balance depreciation has been recorded on the basis of a 10-year life. 6. A machine was sold for $22,400 on July 1, 2017. Original cost of the machine was $49,280 on January 1, 2014, and it was depreciated on the straight-line basis over an estimated useful life of 7 years and a salvage value of $2,240.

(a) Calculate the balance at December 31, 2017 in each of the following balance sheet accounts. (Hint: Disregard the related accumulated depreciation accounts.)

Balance at December 31, 2017 Land $Entry field with incorrect answer Land Improvements $Entry field with correct answer Buildings $Entry field with correct answer Equipment $Entry field with incorrect answer