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Current Attempt in Progress At December 31, 2022, Pronghorn Corporation reported the following plant assets. Land $3,498,000 Buildings $26,630,000 Less: Accumulated depreciation-buildings 13,904,550 12,725,450 Equipment 46,640,000 Less: Accumulated depreciation-equipment 5,830,000 40,810,000 Total plant assets $57,033,450 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,565,200. May 1 Sold equipment that cost $699,600 when purchased on January 1, 2016. The equipment was sold for $198,220. June 1 Sold land for $1,865,600. The land cost $1,166,000. July 1 Purchased equipment for $1,282,600. Dec. 31 Retired equipment that cost $816,200 when purchased on December 31, 2013. No salvage value was received. Equipment 699600 June 1 Cash 1865600 D C 6 699600 99 Gain on Disposal of Plant Assets Land Land 1166000 July 1 Equipment 1282600 Cash 1282600 Dec. 314 Depreciation Expense 81620 Accumulated Depreciation-Equipment 81620 81620 | To record denreciation on equinment retired) - Your answer is partially correct. Prepare the plant assets section of Pronghorn's balance sheet at December 31, 2023. (Hint: You may wish to set up T accounts, post beginning balances, and then post 2023 transactions.) (List Plant Assets in order of Land, Building and Equipment.) PRONGHORN CORPORATION Partial Balance Sheet December 31, 2023 int Assets .and 4837200 4897200 .and Juildings Buildings 26630000 Accumulated Depreciation-Buildings 665750 25964250 Equipment 46406800 9182250 i 37224550 is 4): Accumulated Depreciation-Equipment al Plant Assets al Plant Assets 68086000

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