Below are four independent and unrelated errors discovered at the beginning of 2022 after the 2021 income statement was reported. Prepare any journal entries that should be recorded in 2022 to correct the errors.

1) Depreciation expense of $2,100 on new equipment was omitted from the 2021 financial statements

2) On December 31, 2021, merchandising inventory was overstated by $25,000 due to a mistake in the physical count using the periodic inventory system.

3) On December 12, 2021, an investment costing $80,000 was sold for $100,000. The total of the sale proceeds was credited to the investment account (trading security).

4) On January 1, 2021, the company bought a four-year insurance policy for $800 and immediately charged the full premium to expense.