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The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2015: Accumulated Plant A S 520.000 Depreciat Land Land improvements Building Machinery and 62.000 2.350,000367.000 1.192,000 422,000 235,000129,000 265,000 equipment Automobiles Transactions during 2016 were as follows a. On anuary 2 2016, machinery and equipment were purchased at a total invoice cost of $345,000 which included a $7 200 charge for freight Installation costs of 544 000 were incurred recorded through the date of sale totaled $27 200 work was necessitated by damage caused by severe winter weather b On March 31 2016, a machine purchased for $75,000 in 2012 was sold for $53,500. Depreciation c On May 1 2016, expenditures of $67 000 were made to repave parking lots at Pel's plant location The d. On November 1, 2016. Pell acquired a tract of land with an existing building in exchange for 10,000 insurance totaling $40 000 Shortly after acquisition, the building was razed at a cost of $52 000 in anticipation of new building construction in 2017 On December 31,2016 Pell purchased a new automobile for $16 950 cash and trade-in of an old automobile purchased for $26 500 in 2012 Depreclation on the old automobile recorded through December 31 2016, totaled $15200 The fair value of the old aultomobile was 55 450 Required: 1. Prepare a sichedule analy eing the changes in each of the plant assets during 2016

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