A purchase of machine tools by Jet Co. for $5,670 should have been capitalized as the tools have a 3 year life and an expected residual value of $810. However, Jet Co. erroneously charged the purchase to Repairs & Maintenance Expense. At year-end closing, Jet's bookkeeper noticed the error and made only one correcting entry resulting in Net Income and Total Assets to be understated: Dr Depreciation Expense $5,670 / 3 Cr Accumulated Depreciation $5,670 / 3 Book Required 1: Assuming you fixed all errors, what is the amount of depreciation expense Jet Co. must show on the year end income statement? $ I Required 2: Assuming you fixed all errors, what is the amount for accumulated depreciation Jet Co