Given Below Are Several Accounts and Balances from Carrier Corporation's

question 39

Essay

Given below are several accounts and balances from Carrier Corporation's 2016 financial statements.Prepare the Property, Plant, and Equipment section of the balance sheet and a partial income statement in the space provided below using the accounts provided. $\begin{array}{lr}\text { Depreciation expense } & \$ 59,800 \\\text { Accumulated depreciation } & 257,400 \\\text { Gain on sale of plant asset } & 19,500 \\\text { Building } & 585,000 \\\text { Land } & 120,000 \\\text { Cash received from sale of plant asset } & 52,000\end{array}$

$\begin{array}{l}\text { BALANCE SHEET } &\text { INCOME STATEMENT }\\\hline\end{array}$ ​

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