PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NETProperty and equipment, net consisted of the following:


	As of December 31, 2020		As of December 31, 2019
Automobiles	$	24,544,094	$	24,340,652
Building	71,285,127		17,721,292
Building improvements	9,807,234		9,079,737
Furniture and fixtures	223,996		220,169
Land	52,125,900		3,391,858
Machinery and equipment	13,498,211		11,414,764
Subtotal	171,484,562		66,168,472
Less: accumulated depreciation	(34,615,477)		(28,630,325)
Property and equipment, net	$	136,869,085	$	37,538,147

The Company acquired $102,331,567 of property and equipment resulting from an acquisition of assets from B&R Realty Group on January 17, 2020. See Note 8 for additional information.

Depreciation expense was $6,393,309 and $3,251,162 for the years ended December 31, 2020 and 2019, respectively.