Use the following table:

Big Sky Farms

Partial Balance Sheet

April $30,2023$

Property, plant and equipment:

Land $ $740,000$

Building$1$ $ $756,000$

Less: Accumulated depreciation $594,000162,000$

Equipment$2680,000$

Less: Accumulated depreciation $288,320391,680$

Total property, plant and equipment $ $1,293,680$

$1$The building was purchased on May $3,2012,$ and is depreciated to the nearest whole month using the straight$-$line method. Depreciation is based on a $14-$year life, after which it will be demolished and replaced with a new one.

$2$The equipment was purchased on November $3,2020,$ and is depreciated to the nearest whole month using the double$-$declining$-$balance method. The total estimated useful life is $10$ years with a residual value of $$200,000.$

Required:

$1.$ Calculate and record depreciation for the year just ended April $30,2024,$ for both the building and equipment.

$2.$ Prepare the property, plant, and equipment section of the balance sheet at April $30,2024.($Enter all amounts as positive values.$)$