At the end of its first year, the trial balance of Nygaard Company shows Equipment 532, 900 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be S4, 400. 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