At December $31,2023,$ Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:

Depreciation methods and useful lives:

Buildings$-150\backslash \%$ declining balance; $25$ years.

Equipment$-$Straight line; $10$ years.

Automobiles and trucks$-200\backslash \%$ declining balance; $5$ years, all acquired after $2020.$

Leasehold improvements$-$Straight line.

Land improvements$-$Straight line.

Depreciation is computed to the nearest month and residual values are immaterial. Transactions during $2024$ and other information: Depreciation is computed to the nearest month and residual values are immaterial. Transactions during $2024$ and other information:

a$.$ On January $6,2024,$ a plant facility consisting of land and building was acquired from King Corporation in exchange for $31,000$ shares of Cord's common stock. On this date, Cord's stock had a fair value of $\backslash (\backslash$$ $50\backslash )$ a share. Current assessed values of land and building for property tax purposes are $\backslash (\backslash$$ $202,500\backslash )$ and $\backslash (\backslash$$ $607,500\backslash ),$ respectively.

b$.$ On March $25,2024,$ new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $\backslash (\backslash$$ $228,000\backslash ).$ These expenditures had an estimated useful life of $12$ years.

c$.$ The leasehold improvements were completed on December $31,2020,$ and had an estimated useful life of eight years. The related lease, which would terminate on December $31,2026,$ was renewable for an additional four$-$year term. On April $30,2024,$ Cord exercised the renewal option.

d$.$ On July $1,2024,$ equipment was purchased at a total invoice cost of $\backslash (\backslash$$ $331,000\backslash ).$ Additional costs of $\backslash (\backslash$$ $10,000\backslash )$ for delivery and $\backslash (\backslash$$ $56,000\backslash )$ for installation were incurred.

e$.$ On September $30,2024,$ Cord purchased a new automobile for $\backslash (\backslash$$ $13,100\backslash ).$

f$.$ On September $30,2024,$ a truck with a cost of $\backslash (\backslash$$ $24,600\backslash )$ and a book value of $\backslash (\backslash$$ $10,200\backslash )$ on date of sale was sold for $\backslash (\backslash$$ $12,100\backslash ).$ Depreciation for the nine months ended September $30,2024,$ was $\backslash$$$2,295.$

g$.$ On December $20,2024,$ equipment with a cost of $\backslash (\backslash$$ $20,000\backslash )$ and a book value of $\backslash (\backslash$$ $3,125\backslash )$ at date of disposition was scrapped without cash recovery.

Required:

$1.$ Prepare a schedule analyzing the changes in each of the plant asset accounts during $2024.$ Do not analyze changes in accumulated depreciation and amortization.

$2.$ For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December $31,2024.$ Complete this question by entering your answers in the tabs below.

Prepare a schedule analyzing the changes in each of the plant asset accounts during $2024.$ Do not analyze changes in accumulated depreciation and amortization.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$CORD COMPANY$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$Analysis of Changes in Plant Assets$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$For the Year Ending December $31,2024\}\backslash \backslash$

$\backslash$hline & Balance $12/31/2023$ & Increase & Decrease & $\backslash [$

$\backslash$begin$\{$array$\}\{$c$\}$

$\backslash$text $\{$ Balance $\}\backslash \backslash$

$\backslash$text $\{12/31/2024\}$

$\backslash$end$\{$array$\}$

$\backslash ]\backslash \backslash$

$\backslash$hline Land & $\backslash$$ $181,000$ & & & $\backslash \backslash$

$\backslash$hline Land improvements & $0$ & & & $\backslash \backslash$

$\backslash$hline Buildings & $1,800,000$ & & & $\backslash \backslash$

$\backslash$hline Equipment & $1,425,000$ & & & $\backslash \backslash$

$\backslash$hline Automobiles and trucks & $178,000$ & & & $\backslash \backslash$

$\backslash$hline Leasehold improvements & $228,000$ & & & $\backslash \backslash$

$\backslash$hline & $\backslash$$ $3,812,000$ & & & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$ Complete this question by entering your answers in the tabs below.

Required $2$

For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December $31,2024.$

Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar.

$\backslash$begin$\{$tabular$\}\{|$l$|$l$|\}$

$\backslash$hline $\backslash$multicolumn$\{1\}\{|$c$|\}\{$ CORD COMPANY $\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{1\}\{|$c$|\}\{$ Depreciation and Amortization Expense $\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{1\}\{|$c$|\}\{$ For the Year Ending December $31,2024\}\backslash \backslash$

$\backslash$hline Land Improvements & $\backslash \backslash$

$\backslash$hline Buildings & $\backslash \backslash$

$\backslash$hline Equipment & $\backslash \backslash$

$\backslash$hline Automobiles and trucks & $\backslash \backslash$

$\backslash$hline Leasehold improvements & $\backslash \backslash$

$\backslash$hline Total depreciation and amortization expense for $2024$ & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$