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The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2017:

	Plant Asset			Accumulated Depreciation
Land	$	430,000		$
Land improvements		220,000			53,000
Building		1,900,000			358,000
Machinery and equipment		1,174,000			413,000
Automobiles		190,000			120,000

Transactions during 2018 were as follows:

On January 2, 2018, machinery and equipment were purchased at a total invoice cost of $300,000, which included a $6,300 charge for freight. Installation costs of $35,000 were incurred.

On March 31, 2018, a small storage building was donated to the company. The person donating the building originally purchased it three years ago for $27,000. The fair value of the building on the day of the donation was $18,500.

On May 1, 2018, expenditures of $58,000 were made to repave parking lots at Pells plant location. The work was necessitated by damage caused by severe winter weather.

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 $36 per share. Pell paid legal fees and title insurance totaling $31,000. Shortly after acquisition, the building was razed at a cost of $43,000 in anticipation of new building construction in 2019.

On December 31, 2018, Pell purchased a small storage building by giving $16,050 cash and an old automobile purchased for $22,000 in 2014. Depreciation on the old automobile recorded through December 31, 2018, totaled $14,300. The fair value of the old automobile was $4,550.

Required: Prepare a schedule analyzing the changes in each of the plant assets during 2018.

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