signment CES Problem 9-2A (Part Level Submission) At December 31, 2017, Flounder Corporation reported the following plant assets. Land Buildings Less: Accumulated depreciation- buildings Equipment Less: Accumulated depreciation $ 5,883,000 $26,560,000 23,384,925 3,175,07s 78,440,000 Study equipment 9,805,000 68,635,000 Total plant assets $77,693,075 During 2018, the following selected cash transactions occurred Apr. 1 Purchased land for $4,314,200. May 1 Sold equipment that cost $1,176,600 when purchase June 1 Sold land for $3,137,600. The land cost $1,961,000. July 1 Purchased equipment for $2,157,100 Dec. 31 Retired equipment that cost $1,372,700 when purchased on December 31, 2008. No salvage value was received. ed on January 1, 2011. The equipment was sold for $333,370. (a) and equipment. The b Flounder uses straight-line depreciation for depreciation on assets d value; the equip is estimated to have a 10-year useful life and no salvage value. Update in the