Pell Corporation's Property,Plant,and Equipment and Accumulated Depreciation accounts had the following balances at December 31,2015:

	Property, Plant,and Equipment	Accumulated Depreciation
Land	$350,000	$0
Land Improvements	$180,000	$45,000
Building	$1,500,000	$350,000
Machinery and Equipment	$1,158,000	$405,000
Automobiles	$150,000	$112,000

Depreciation method and useful lives:

Land improvements:straight-line;15 years

Building:150%-declininig-balance;20 years

Machinery and equipment:straight line;10 years

Automobiles:150%-declining balance;3 years

Depreciation is computed to the nearest month. No salvage values are recognized

Transactions during 2016:

1. On January 2,2016, machinery and equipment were purchased at a total invoice cost of $260,000, which included a $5,500 charge for freight, installation costs of $27,000 were incurred.

2. On March 31, 2016, a machine purchased for $58,000 on January 3,2012, was sold for $36,500.

3. On May 1,2016, expenditures of $50,000 were made to repave parking lots at Pell's plant location. The work was neccessitated by damage caused b severe winter weather.

4. On November 2, 2016, Pell acquired a tract of land with an existing building in exchange for 10,000 shares of Pell's $20 par common stock, which had a market price of $38 a share on this date. Pell paid legal fees and title insurance totaling $23,000. The last property tax bill indicated assessed values of $240,000 for land and $60,000 for building. Shortly after acquisition, the building was razed at a cost of $35,000 in anticipation of new building construction in 2017.

5. On December 31,2016 Pell purchased a new automobile for $15,250 cash and trade-in of an automobile purchased for $18,000 on January 1,2015. The new automobile has a cash value of $19,000.

REQUIRED:

1. Prepare a schedule analyzing the changes in each of the plant assets during 2016, with detailed supporting computations. Disregard the related Accumulated Depreciation accounts.

2. For each asset classification,prepare a schedule showing depreciation expense for the year ended December 31, 2016.

3. Prepare a schedule showing the gain or loss from each asset disposal that Pell would recognize in its income statement for the year ended December 31, 2016.