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At December 31,2025, Sheffield Corporation reported the following plant assets. Land $3,798,000 ...

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Accounting

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At December 31,2025, Sheffield Corporation reported the following plant assets.
Land
$3,798,000
Buildings
$26,660,000
Less: Accumulated depreciation-buildings 11,997,00014,663,000
Equipment 50,640,000,
During 2026, the following selected'cash transactions occurred.
Apr. 1 Purchased land for $2,785,200.
May 1 Sold equipment that cost $759,600 when purchased on January 1,2019. The equipment was sold
June 1 Sold land for $2,025,600. The land cost $1,266,000.
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