The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2017 Accumulated Depreciation Plant Asset Land Land improvements Building Machinery and equipment Automobiles $ 550,000 280,000 2,500,000 1,198,000 250,000 65,000 370,000 425,000 132,000 Transactions during 2018 were as follows a. On January 2, 2018, machinery and equipment were purchased at a total invoice cost of $360,000, which included a $7,500 charge b. On March 31, 2018, a small storage building was donated to the company. The person donating the building originally purchased it c. On May 1, 2018, expenditures of $70,000 were made to repave parking lots at Pell's plant location. The work was necessitated by d. On November 1, 2018, Pell acquired a tract of land with an existing building in exchange for 10,000 shares of Pell's common stock for freight. Installation costs of $47,000 were incurred three years ago for $39,000. The fair value of the building on the day of the donation was $24,500 damage caused by severe winter weather that had a market price of $37 per share. Pell paid legal fees and title insurance totaling $43,000. Shortly after acquisition, the building was razed at a cost of $55,000 in anticipation of new building construction in 2019 e. On December 31, 2018, Pell purchased a small storage building by giving $17,250 cash and an old automobile purchased for $28,000 in 2014. Depreciation on the old automobile recorded through December 31, 2018, totaled $15,500. The fair value of the old automobile was $5,750 Required: Prepare a schedule analyzing the changes in each of the plant assets during 2018