5 In May of 2020, DogExpress, Inc. was sued by the State of Wisconsin for producing hotdogs that did not meet state processing standards. During 2020, DogExpress recorded a $150,000 debit to Litigation Expense and a credit to Litigation Liability based on an attorney estimate that a fine would be probable and the best estimate was $150,000. In 2021, DogExpress's attorney revised the estimate of the fine to $85,000 due to continued discussion with the State of Wisconsin. Described below are five independent and unrelated situations involving accounting changes. Assume for each situation that it is 2021 . Therefore, your solution and any entries will be prepared for 2021. Also assume that it is before any adjusting entries or closing entries were made in 2021. gnore income tax effects. REQUIRED: For each situation below: A Identify the type of change. B Identify if a Retrospective, Modified Retrospective, or Prospective is needed. C Prepare the 2021 journal entry necessary due to the situation, as well as any adjusting entry needed in 2021