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At December 31, 2019, certain accounts included in the property, plant, and equipment section of Flint Companys balance sheet had the following balances.

Land		$232,300
Buildings		893,400
Leasehold improvements		670,000
Equipment		879,200

During 2020, the following transactions occurred.

1.		Land site number 621 was acquired for $859,000. In addition, to acquire the land Flint paid a $51,000 commission to a real estate agent. Costs of $44,400 were incurred to clear the land. During the course of clearing the land, timber and gravel were recovered and sold for $14,500.
2.		A second tract of land (site number 622) with a building was acquired for $421,000. The closing statement indicated that the land value was $300,000 and the building value was $121,000. Shortly after acquisition, the building was demolished at a cost of $40,700. A new building was constructed for $329,300 plus the following costs.

Excavation fees		$38,100
Architectural design fees		11,000
Building permit fee		2,400
Imputed interest on funds used during construction (stock financing)		8,500

The building was completed and occupied on September 30, 2020.

3.		A third tract of land (site number 623) was acquired for $652,700 and was put on the market for resale.
4.		During December 2020, costs of $88,200 were incurred to improve leased office space. The related lease will terminate on December 31, 2022, and is not expected to be renewed. (Hint: Leasehold improvements should be handled in the same manner as land improvements.)
5.		A group of new machines was purchased under a royalty agreement that provides for payment of royalties based on units of production for the machines. The invoice price of the machines was $86,900, freight costs were $3,300, installation costs were $2,300, and royalty payments for 2020 were $17,300.

(a) Calculate the balance at December 31, 2020 in each of the following balance sheet accounts. Disregard the related accumulated depreciation accounts.

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