The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2017: Accumulated Plant Asset Land Land improvements Machinery and equipment $ 360,000 185,000 1,550,000 1,160,000 155,000 46,000 351,000 406,000 113,000 Autonobile Transactions during 2018 were as follows: a. On January 2, 2018, machinery and equipment were purchased at a total invoice cost of $265,000, b. On March 31, 2018, a small storage building was donated to the company. The person donating the which included a $5,600 charge or freight. Installation costs of $28,000 were incurred. building originally purchased it three years ago for $20,000. The fair value of the building on the day of the donation was $15,000 c. On May 1, 2018, expenditures of $51,000 were made to repave parking lots at Pell's plant location. The work was necessitated by damage caused by severe winter weather. 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 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 2019 e. On December 31, 2018, Pell purchased a small storage building by giving $15,350 cash and an old automobile purchased for $18,500 in 2014. Depreciation on the old automobile recorded through December 31, 2018, totaled $13,600. The fair value of the old automobile was $3,850. Required: Prepare a schedule analyzing the changes in each of the plant assets during 2018. CORPORATI Analysis of Changes in Plant Assets For the Year Ended December 31, 2018 Balance 12/31/2017 Decrease 12/31/2018 $360,000 185,000 1,550,000 Land Building 1,160,000 155,000 Machinery and equipment Totals $ 3.410,000 $