1. During 2022, the PR Company decided to change the depreciation method of its equipment from the sum of the digits (SD) to the straight line method (LR) for financial disclosure purposes. For tax purposes, the company uses and will continue to use the sum of the digits method. 3. The following table presents depreciation expense under both methods for the relevant periods: Instructions: 1. Prepare the journal entry to record this change. 2. Determine the equipment's book value to be reported in the 2021 comparative statement of financial position, to be included in the 202210K. 3. On June 30, 2022, the company determined to change the estimated useful life of the equipment to a total of 15 years. Residual value is estimated to drop to $10,000. Prepare the journal entry to record this change. 1. During 2022, the PR Company decided to change the depreciation method of its equipment from the sum of the digits (SD) to the straight line method (LR) for financial disclosure purposes. For tax purposes, the company uses and will continue to use the sum of the digits method. 3. The following table presents depreciation expense under both methods for the relevant periods: Instructions: 1. Prepare the journal entry to record this change. 2. Determine the equipment's book value to be reported in the 2021 comparative statement of financial position, to be included in the 202210K. 3. On June 30, 2022, the company determined to change the estimated useful life of the equipment to a total of 15 years. Residual value is estimated to drop to $10,000. Prepare the journal entry to record this change