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Paxton Co . has the following opening UCC balances for 2 0 2 3 : Class 1 ( 4 % ) $ 6 4 5

Paxton Co. has the following opening UCC balances for 2023:
Class 1(4%) $645,000
Class 8188,000
Class 1052,000
During 2023, it made the following acquisitions and dispositions:
1) It sold its land and building for $1,500,000 and moved into a leased space. The land and
building were originally purchased for $1,000,000. The land portion is considered to be
20% of the purchase and sale price.
2) Paxton entered a 10-year lease with 3 renewal periods of 5 years each. It spent $90,000
on leasehold improvements.
3) It purchased $40,000 of new furniture. It sold its older furniture on Kijiji for $5,000
(originally costing $33,000).
4) It purchased new equipment at the end of 2023. It arrived on December 28, but because
employees were on holidays until January, it was put in position, assembled and tested
on January 5,2024.
5) Paxton purchased a new gas-powered passenger vehicle for $50,000.

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