At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Accumulated Depreciation Category Land Plant Asset and Amortization 180,000 1,750,000 1,375,000 Buildings Machinery and equipment Automobiles and trucks 333,900 322,500 105,325 177,000 226,000 Leasehold improvements Land improvements 113,000 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 30,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $40 a share. Current assessed values of land and building for property tax purposes are $160,000 and $640,000, respectively. b. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $222,000. 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 $330,000. Additional costs of $12,000 for delivery and $55,000 for installation were incurred. e. On August 30, 2018, Cord purchased a new automobile for $13,000. f. On September 30, 2018, a truck with a cost of $24,500 and a book value of $10,000 on date of sale was sold for $12,000. Depreciation for the nine months ended September 30, 2018, was $2,250. g. On December 20, 2018, a machine with a cost of $19,500 and a book value of $3,100 at date of disposition was scrapped without cash recovery Complete this question by entering your answers in the tabs below. Required 1 Required 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 Balance 12/31/17 Increase Decrease 12/31/18 Land $ 180,000 Land improvements Buildings Machinery and equipment 0 1,750,000 1,375,000 Automobiles and trucks 177,000 Leasehold improvements 226,000 $ 3,708,000 S 0 Required 2> Required: 1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accum depreciation and amortization. 2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 3 Complete this queston 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 13,875 Buildings Machinery and equipment Automobiles and trucks 157,350 21,378 Leasehold improvements 22,600 215,203 Total depreciation and amortization expense for 2018 Required 1