Question 3(b) The plant asset and accumulated depreciation accounts of Pedagang Corporation had the following balances at December 31, 2016: Accumulated depreciation Land Land improvements Building Machinery and equipment Motor Vehicles Plant Assets RM350,000 180,000 1,500,000 1.158,000 150,000 RM45,000 350,000 405,000 112.000 Transactions during 2017 were as follows: 1. On January 2, 2017 machinery and equipment were purchased at a total invoice cost of RM260,000, which included a RM5,500 charge for freight. Installation costs of RM27,000 were incurred. 2. On March 31, 2017, a machine purchased for RM58,000 in 2009 was sold for RM36,500. Depreciation recorded through the date of sale totaled RM24,650. 3. On May 1, 2017, expenditures of RM50,000 were made to repave parking lots at Pell's plant location. The work was necessitated by damage caused by severe heavy downpour. 4. On November 1, 2017. Pedagang acquired a piece of land with an existing building in exchange for 10,000 shares of Pedagang's ordinary shares that had a market price of RM38 per share. Pedagang paid legal fees and title insurance totaling RM23,000. Shortly after the acquisition, the building was demolished at a cost of RM35,000 in anticipation of new building construction in 2018. 5. On December 31, 2017, Pedagang purchased a new motor vehicle for RM15,250 cash and trade-in of an old vehicle purchased for RM18.000 in 2013. Depreciation on the old vehicle recorded through December 31, 2017, totaled RM13,500. The fair value of the old vehicle was RM3,750. Required: Prepare a schedule analyzing the changes in each of the plant assets during 2017, in order to identify the ending balances. Format as shown below, and please show workings. Beginning balance Increase Decrease Ending balance (6 marks) (ii) Prepare schedule showing the gains or loss from each asset disposal that would be recognized in Pedagang's Statement of Profit or Loss for the year ended December 31, 2017, (4 marks) (ii) Describe the subsequent measurement of the property, plant and equipment (PPE), that are recognised in MFRS 116. (2 marks) (Sub-total- 12 marks)