Barney Corporation began business on January 1, 2013. The company has released the following financial statements for 2013 and 2014 and has prepared the following proposed statements for 2015.

Barney Corporation acquired the equipment for $150,000 on January 1, 2013, and began depreciating the equipment over a 10-year estimated useful life with no salvage value, using the straight-line method of depreciation. The capitalized exploration costs reflect oil and gas drilling costs that Barney has capitalized under the full cost method.
As of January 1, 2015, Barney has decided to make the following accounting changes.
(a) For justifiable reasons, Barney Corporation changed to the double-declining-balance method of depreciation for the equipment as of January 1, 2015.
(b) For justifiable reasons, Barney Corporation changed from the full cost to the successful efforts method of accounting for oil and gas drilling costs as of January 1, 2015. Because none of Barney's drilling so far can be classified as "successful," all drilling costs would be expensed as incurred under the successful efforts method.
Instructions:
In three-year comparative format, prepare the balance sheets, statements of income, and statements of retained earnings that would be reported in 2015 for the years 2013, 2014, and 2015. Barney has not yet paid any dividends. Make sure to correctly treat the accounting changes mentioned above. (Ignore any income tax effects.)

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Barney Corporation Comparative Balance Sheets December 31 2015 2014 2013 Assets Capitalized exploration costs Equipment Accumulated depreciation-equipment 60,000 150,000 (45,000) . $414.000 $219,000 45,000 150,000 (30,000) $384,000 $165,000 30,000 150,000 (15,000) $330,000 Total assets Liabilities and Stockholders' Equity Current liabilities Common stock Retained earnings $177,000 165,000 72,000 $414,000 $177,000 165,000 42,000 $384,000 $147,000 165,000 18,000 $330,000 Total liabilities and stockholders' equity Barney Corporation Comparative Income Statements For the Years Ended December 31 2015 2014 2013 Sales Cost of goods sold Administrative expenses Amortization of capitalized exploration costs Depreciation expense-equipment Total costs $315,000 $240,000 12,500 17,500 15,000 $285,000 30,000 300,000 $225,000 23,500 12,500 15,000 $276,000 S 24,000 $255,000 $189,000 28,000 5,000 15,000 $237,000 18,000 Net income.