At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows Accumulated Depreciation and Amortization Plant Asset Category Land Buildings Machinery and equipment Automobiles and trucks Leasehold improvements Land improvements $ 169,000 1,200,000 825,000 166,000 204,000 322,900 311,500 94,325 102,000 Depreciation methods and useful lives Buildings-150% declining balance, 25 years Machinery and equipment-Straight line; 10 years Automobiles and trucks-150% declining balance; 5 years, all acquired after 2014 Leasehold improvements-Straight line Land improvements-Straight line Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information a. On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 19,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $60 a share. Current assessed values of land and building for property tax purposes are $207,000 and $483,000, respectively $156,000. These expenditures had an estimated useful life of 12 years related lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30 b. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of C. The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of eight years. The 2018, Cord exercised the renewal option. d. On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $319,000. Additional costs of $11,000 for Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information a. On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 19,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $60 a share. Current assessed values of land and building for property tax purposes are $207,000 and $483,000, respectively b. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $156,000. These expenditures had an estimated useful life of 12 years C. The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30 2018, Cord exercised the renewal option. d. On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $319,000. Additional costs of $11,000 for delivery and $44,000 for installation were incurred e. On August 30, 2018, Cord purchased a new automobile for $11,900 f. On September 30, 2018, a truck with a cost of $23,400 and a book value of $8,000 on date of sale was sold for $10,900 Depreciation for the nine months ended September 30, 2018, was $1,800 g. On December 20, 2018, a machine with a cost of $14,000 and a book value of $2,825 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 2018. Do not analyze changes in accumulated depreciation and amortization 2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018 Answer is not complete Complete this question by entering your answers in the tabs below Required 1Required 2 Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization CORD COMPANY Analysis of Changes in Plant Assets For the Year Ending December 31, 2018 Balance 12/31/17 $ 169,000 Balance Increase Decrease 12/31/18 Land Land improvements Buildings Machinery and 156,000 156,000 1,200,000 825,000 166,000 204,000 $2,564,000 74,000 1 4,000 uipment Automobiles and trucks Leasehold improvements 11,900 0023,400 204,000 360,000 541,90037,400 Required1 Required 2 Answer is not complete Complete this question by entering your answers in the tabs below Required 1 Required 2 For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) CORD COMPANY Depreciation and Amortization Expense For the Year Ending December 31, 2018 Land Improvements Buildings Machinery and equipment Automobiles and trucks 9,750 115,626 01,200 21,245 20,400 $ 268,221 easehold improvements Total depreciation and amortization expense for 2018 K Required 1 Required 2