Ayayai has already made an entry that established the incorrect December 31, 2020, inventory amount. 3. At December 31, 2020, Ayayai decided to change the depreciation method on its office equipment from double- declining-balance to straight-line. The equipment had an original cost of $92,800 when purchased on January 1, 2018. It has a 10-year useful life and no salvage value. Depreciation expense recorded prior to 2020 under the double-declining-balance method was $38,600. Ayayai has already recorded 2020 depreciation expense of $12,500 using the double-declining-balance method. 4. Before 2020, Ayayai accounted for its income from long-term construction contracts on the completed-contract basis. Early in 2020, Ayayai changed to the percentage-of-completion basis for accounting purposes. It continues to use the completed-contract method for tax purposes. Income for 2020 has been recorded using the percentage-of-completion method. The following information is available. Pretax Income Percentage-of-Completion Completed-Contract $148,200 $110,000 58,200 21,400 Prior to 2020 2020 Prepare the journal entries necessary at December 31, 2020, to record the above corrections and changes. The books are still open for 2020. The income tax rate is 20%. Ayayai has not yet recorded its 2020 income tax expense and payable amounts so current-year tax effects may be ignored. Prior-year tax effects must be considered in item 4. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) 3. Accumulated Depreciation. 0 Retained Earnings 4. Accumulated Depreciation: Deferred Tax Liability Retained Earnings