TransSafe Inc. is a specialty packaging company. TransSafe Inc. produces hard plastic packaging material per customer specifications. The key to the company's success is their flexibility and speed. Recently, the company has experienced significant growth and has determined that they need an additional plant location. On October 1, 2020 the company located an existing building in St. Paul, MN and decided to purchase the land and building. Prior to the purchase of the St. Paul property, the company has, as of September 30, 2020, total PPE of $4,550,000 (see the September 30, 2020 PPE schedule below). Buidling Accum. Depr.- Building The Property, Plant, and Equipment section of TransSafe Inc. as of September 30, 2020 is as follows: $ 3,400,000 $ 1,100,000 Building Accumulated Depreciation - Building $3,400,000 $1,100,000 $2,300,000 Equipment $ 4,500,000 Accum. Depr. - Equipment $ 2,900,000 Equipment Accumulated Depreciaiton - Equipment $4,500,000 $2,900,000 $1,600,000 Land Total Property, Plant, and Equipment $ 650,000 $4,550,000 Land $ 650,000 TransSafe Inc. has made three major transactions involving property, plant, and equipment between October 1, 2020 and December 31, 2021. Required: Prepare the necessary journal entries to record the transactions and prepare the PPE Schedule as of December 31, 2021