10 Carly The following is an extract from the financial statements of Carly on 31 December Year 0. Property, plant and equipment Depreciation Depreciation is provided at the following rates. - On land and buildings 2% per annum straight line on buildings only - On plant and equipment 25% reducing balance - On computers 33.33% per annum straight line A full year's deprecation is charge in the year of purchase and none in the year of sale." During Year 1 the following transactions took place. (1) On 31 December the land and buildings were revalued to $1,750,000. Of this amount, $650,000 related to the land (which had originally cost $500,000 ). The remaining useful life of the buildings was assessed as 40 years. (2) A machine which had cost $80,000 and had accumulated depreciation of $57,000 at the start of the year was sold for $25,000. (3) A new machine was purchased, incurring the following costs. $ (4) On 1 January it was decided to change the method of providing depreciation on computer equipment from the existing method to 40% reducing balance. Required Produce the analysis of property, plant and equipment as it would appear in the financial statements of Carly for the year ended 31 December Year 1. Ignore taxation