11. Property and Equipment

The following is a summary of activities for the years ended March 31, 2024, and March 31, 2023:

		Computers		Furniture		Automobiles		Demonstration Electric Vehicles			Leased Asset		Tools and Equipment		Land			Leasehold Improvements		Total
Cost
Balance, March 31, 2022	$	242,854	$	100,811	$	589,420	$	2,727,455		$	672,151	$	1,377,357	$	801,317		$	163,979	$	6,675,344
Additions		75,406		22,894		49,845		14,678			-		185,954		-			7,215		355,992
Acquired in Acquisition		214		71		75,500		-			-		136,118		-			56,349		268,252
Asset sold		-		-		-		-			-		-		(801,317	)		-		(801,317	)
Balance, March 31, 2023	$	242,854	$	100,811	$	589,420	$	2,727,455		$	672,151	$	1,377,357	$	-		$	163,979	$	5,874,027
Transfers from inventory		-		-		-		874,278			-		-		-			-		874,278
Additions		-		-		-		-			-		334,575		-			26,958		361,533
Balance, March 31, 2024	$	242,854	$	100,811	$	589,420	$	3,601,733		$	672,151	$	1,711,932	$	-		$	190,937	$	7,109,838

Depreciation
Balance, March 31, 2022		77,799		35,412		82,901		931,347			667,342		769,356		-			43,625	$	2,607,782
Depreciation		64,820		12,912		67,441		282,957			4,809		194,875		-			34,338		662,152
Foreign exchange translation		-		-		-		(698	)		-		-		-			-		(698	)
Balance, March 31, 2023	$	142,619	$	48,324	$	150,342	$	1,213,606		$	672,151	$	964,231	$	-		$	77,963	$	3,269,236
Depreciation		62,128		10,931		70,900		581,355			-		305,692		-			42,146		1,073,152
Foreign exchange translation		-		-		-		3,925			-		-		-			-		3,925
Balance, March 31, 2024	$	204,747	$	59,255	$	221,242	$	1,798,886		$	672,151	$	1,269,923	$	-		$	120,109	$	4,346,313

Carrying amounts
As at, March 31, 2023	$	100,235	$	52,487	$	439,078	$	1,513,849		$	-	$	413,126	$	-		$	86,016	$	2,604,791

As at, March 31, 2024	$	38,107	$	41,556	$	368,178	$	1,802,847		$	-	$	442,009	$	-		$	70,828	$	2,763,525

During the year ended March 31, 2024, the Company transferred vehicles from inventory with a carrying value of $874,278 to Property and Equipment. The transferred vehicles are comprised of four EV Stars, one Nano BEAST, one BEAST and one EV 550.

During the year ended March 31, 2023, the Company completed the sale of land owned by the Company in Porterville California for gross proceeds of $950,000 and generated a gain on the sale of $72,867 that was included in Other income. During the year ended March 31, 2023 GreenPower also acquired property, plant and equipment with an aggregate fair value of $268,252, as part of its acquisition of Lion Truck Body.