Jada Company had the following transactions during the year:

• Purchased a machine for $500,000 using a long-term note to finance it.
• Paid $500 for ordinary repair.
• Purchased a patent for $40,000 cash.
• Paid $160,000 cash for addition to an existing building.
• Paid $55,000 for monthly salaries.
• Paid $270 for routine maintenance on equipment.
• Paid $10,000 for major repairs.
• Depreciation expense recorded for the year is $28,000.

A. If all transactions were recorded properly, what is the amount of increase to the Property, Plant, and Equipment section of Jadas balance sheet resulting from this years transactions?

B. What amount did Jada report on the income statement for expenses for the year?