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i need help finding the ending balance of accumulated depreciation for equipment

Reporting and Analyzing Long-Lived Assets urchase, sale. ton Excel 29.2A (LO 2, 3, 5), AP At December 31, 2022, Arnold Corporation reported the following plant assets. Land $ 3,000,000 Buildings $26,500,000 Less: Accumulated depreciation-buildings 11,925,000 14,575,000 Equipment 40,000,000 Less: Accumulated depreciation-equipment 5,000,000 35,000,000 Total plant assets $52,575,000 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,200,000 May 1 Sold equipment that cost $600,000 when purchased on January 1, 2016. The equipment was sold for $170,000. June 1 Sold land for $1,600,000. The land cost $1,000,000. July 1 Purchased equipment for $1,100,000 Dec. 31 Retired equipment that cost $700,000 when purchased on December 31, 2013. No salvage value was received. Instructions a. Journalize the transactions. (Hint: You may wish to set up T-accounts, post beginning balances, and then post 2023 transactions.) Arnold uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is esti- mated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or wirement. b. Record adjusting entries for depreciation for 2023, c. Prepare the plant assets section of Amold's balance sheet at December 31, 2023 = $50,037,500

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