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

Plant Asset Accumulated Depreciation

Land $ 350,000 $

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

	Transactions during 2016 were as follows:
a.	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.
b.	On March 31, 2016, a machine purchased for $58,000 in 2012 was sold for $36,500. Depreciation recorded through the date of sale totaled $24,650.
c.	On May 1, 2016, expenditures of $50,000 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 $38 per share. Pell paid legal fees and title insurance totaling $23,000. Shortly after acquisition, the building was razed at a cost of $35,000 in anticipation of new building construction in 2017.
e.	On December 31, 2016, Pell purchased a new automobile for $15,250 cash and trade-in of an old automobile purchased for $18,000 in 2012. Depreciation on the old automobile recorded through December 31, 2016, totaled $13,500. The fair value of the old automobile was $3,750.

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.