At the end of its first year, the trial balance of Grotowski Company shows Equipment $33, 700 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $4, 600. Prepare the adjusting entry for depreciation at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Post the adjustments to T-accounts. Indicate the balance sheet presentation of the equipment at December 31