Exercise $8-16$A $($Static$)$ Distinguishing between revenue expenditures and capital expenditures LO $8-8$

Bill's Wrecker Service has just completed a minor repair on a tow truck. The repair cost was $$1,550,$ and the book value prior to the repair was $$6,500.$ In addition, the company spent $$12,000$ to replace the roof on a building. The new roof extended the life of the building by five years. Prior to the roof replacement, the general ledger reflected the Building account at $$85,000$ and related Accumulated Depreciation account at $$32,000.$

Required

After the work was completed, what book value should appear on the balance sheet for the tow truck and the building?