31, 2015: 500,000 Building 2,250,000 365.000 1,188,000 420,000 127,000 ransactions during 2016 were as follows: a On January 2, 2016 machinery and equipment were purchased at total invoice cost of$335,000, which included a $7,000 charge for freight. Installation costs of $42.000 were incurred recorded through the date of sale totaled $26.900. c, on May 1, 2016, $65.000 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, 2016, Pel acquired a tract of land with an existing building in exchange for 10,000 shares of Pein's common stock that had a market price of s37 per share. Pel paid legal fees and title insurance totaling $38.000. Shorty after acquisiton, the bulding was razed at a cost of$50,000 in anticipation of new building construction in 2017 e, On December 31, 2016, Pell purchased a new automobile for s16,750 cash and trade in ofan old automobile purchased for $25.500 in 2012. on the old recorded through 31, totaled $15,000. fair value of the old automobile was Required: 1. Prepare a schedule anal lyzing the changes in each of the plant assets during 2016 Analysis of Changes in Plant Assets For the Year Ended December 31, 2016 Balance 1231/1 1231 16 255.000 2,250,000 225.000 4,418,000