9 At December 31, 2020, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Plant Asset $ 173.983 Accumulated Depreciation and Amortization points Category Land Land improvements Quildings Equipment Automobiles and trucks Leasehold inprovements 1,400,000 326,900 315,500 98,325 106,000 178.888 212,898 Depreciation methods and useful lives: Buildings150% declining balance: 25 years. Equipment-Straight line: 10 years. Automobiles and trucks-200% declining balance: 5 years, all acquired after 2017. Leasehold Improvements-Straight line. Land improvements-Stralght line. Depreciation is computed to the nearest month and residual values are Immaterlal. Transactions during 2021 and other information a. On January 6, 2021. a plant facility consisting of land and building was acquired from King Corp. In exchange for 23.000 shares of Coro's common stock. On this date. Cord's stock had a fair value of $50 a share. Current assessed values of land and building for property tax purposes are $182,500 and $547.500, respectively. b. On March 25, 2021, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $180.000 These expenditures had an estimated useful life of 12 years. c. The leasehold Improvements were completed on December 31, 2017. and had an estimated useful life of elght years. The related lease, which would terminate on December 31, 2023, was renewable for an additional four-year term. On April 30, 2021, Cod exercised the renewal option. d. On July 1, 2021, equipment was purchased at a total Involce cost of $323.000. Additional costs of $10,000 for delivery and $48.000 for Installation were incurred. e. On September 30, 2021. Cord purchased a new automobile for $12,300. f. On September 30, 2021, a truck with a cost of $23.800 and a book value of $8.800 on date of sale was sold for $11.300 Depreciation for the nine months ended September 30, 2021. was $1.980. g. On December 20, 2021, equipment with a cost of $16.000 and a book value of $2.925 at date of disposition was scrapped without cash recovery. Required: 1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2021. Do not analyze changes in accumulated depreclation and amortization. 2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2021. Complete this question by entering your answers in the tabs below. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2021. Do not analyze changes in accumulated depreciation and amortization. CORD COMPANY Analysis of Changes in Plant Assets For the Year Ending December 31, 2021 Balanee 121312020 Increase 173,000 42/3-1/2021 5 182 500 -882.500 547.500 Land improvements Buildings Equipment Automobiles and trueks Leasehold improvements 1,400,000 1,025.000 170.000 212000 2.980.000 -982.500 730.000 s 9.500 Required 2 >