20-1, 20-2, 20-3 57 At the beginning of 2021. Wagner Implements undertook a variety of changes in accounting methods, corrected several errors, and Instituted new accounting policies Required: Identity for each item below the type of change and the reporting approach Wagner would use. Type of Change (choose one) Heporting proach choose me P. Change in accounting principle Retrospective proach E. Change in accounting estimate 7. Prespective approach EP. Change in estimate resulting from a change in principle X. Correction of an error N. Neither an accounting change nor an accounting error Type of Chango Reporting Approach Item By acquiring additional stock. Wagner increased its investment in Wise, Inc, from a 12% norest to 255 and changed its method of accounting for the investment to the equity method 2 Wagner instituted a postretirement benefit plan for its employees in 2021 Wagner did not previously have such a plan 3 Wagner changed its method of depreciating computer equipment from the SYD method to the straight line mothod 4 Wagner dotermined that a fiability insurance premium it both paid and expensed in 2020 covered the 2020- 2022 penod By selling shares in Launch Corp Wagner decreased its investment in the company from a 23% interest to 5 15% and changed its method of accounting for the investment from the equity method to the fair value through net income method 6 Due to an unexpected relocation Wagner determined that its office building previously depreciated using a 45-year life, should be depreciated using an 18 your life Continued