The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2015:

	Plant Asset			Accumulated Depreciation
Land	$	360,000		$
Land improvements		185,000			46,000
Building		1,550,000			351,000
Machinery and equipment		1,160,000			406,000
Automobiles		155,000			113,000

Transactions during 2016 were as follows:
a.	On January 2, 2016, machinery and equipment were purchased at a total invoice cost of $265,000, which included a $5,600 charge for freight. Installation costs of $28,000 were incurred.
b.	On March 31, 2016, a machine purchased for $59,000 in 2012 was sold for $37,500. Depreciation recorded through the date of sale totaled $24,800.
c.	On May 1, 2016, expenditures of $51,000 were made to repave parking lots at Pells plant location. The work was necessitated by damage caused by severe winter weather.
d.	On November 1, 2016, Pell acquired a tract of land with an existing building in exchange for 10,000 shares of Pell's common stock that had a market price of $35 per share. Pell paid legal fees and title insurance totaling $24,000. Shortly after acquisition, the building was razed at a cost of $36,000 in anticipation of new building construction in 2017.
e.	On December 31, 2016, Pell purchased a new automobile for $15,350 cash and trade-in of an old automobile purchased for $18,500 in 2012. Depreciation on the old automobile recorded through December 31, 2016, totaled $13,600. The fair value of the old automobile was $3,850.

Required:

1.

Prepare a schedule analyzing the changes in each of the plant assets during 2016.

2.	Prepare a schedule showing the gain or loss from each asset disposal that would be recognized in Pells income statement for the year ended December 31, 2016.