At December 31, 2015, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Accumulated Depreciation Category Plant Asset and Amortization Land 181,000 334,900 Buildings 1,800,000 323,500 Machinery and equipment 1,425,000 106,325 Automobiles and trucks 178,000 Leasehold improvements 228,000 114,000 Land improvements Depreciation methods and useful lives Building declining balance; 25 years Machinery and equipment Straight line; 10 years Automobiles and trucks 150% declining balance: 5 years, all acquired after 2012. Leasehold improvements Straight line Land improvements-Straight line Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2016 and other information a. On January 6, 2016, a plant facility consisting of land and building was acquired from King Corp. in exchange for 31,000 shares of Cord'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 $202,500 and $607,500, respectively. b. On March 25, 2016, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of S228,000. These expenditures had an estimated useful life of 12 years c. The leasehold improvements were completed on December 31, 2012, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2018, was renewable for an additional four-year term. On April 29, 2016, Cord exercised the renewal option d. On July 1, 2016, machinery and equipment were purchased at a total invoice cost of S331,000 Additional costs of $10,000 for delivery and $56,000 for installation were incurred. e. On August 30, 2016, Cord purchased a new automobile for $13,100 f. On September 30, 2016, a truck with a cost of S24,600 and a book value of $10,200 on date of sale was sold for $12,100. Depreciation for the nine months ended September 30, 2016, was $2,295 g. On December 20, 2016, a machine with a cost of $20,000 and a book value of $3,125 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 2016. Do not analyze changes in accumulated depreciation and amortization