Bracy Company acquired a new piece of construction equipment on January 1, 2015, at a cost of $199,000. The equipment was expected to have a useful life of 14 years and a residual value of $17,000 and is being depreciated on a straight-line basis. On January 1, 2016, the equipment was appraised and determined to have a fair value of $202,770, a salvage value of $17,000, and a remaining useful life of thirteen years.

a.

Depreciation Expense

	2015	2016	2017
IFRS
US GAAP
Difference

Book Value of Equipment

	12/31/15	12/31/6	2017
IFRS
US GAAP
Difference

b. Determine the adjustments that Bracy would make in 2015, 2016, and 2017 to reconcile net income and stockholders equity under U.S. GAAP to IFRS. (If there is no reconciliation adjustment select "No adjustment is required to". Input all values as positive numbers.)

2015 Adjustments

No adjustment is required	US GAAP Net Income	N.A
No adjustment is required	US GAAP Stockholder's Equity	N.A

2016 Adjustments

Amount deducted from	US GAAP Net Income	????
Amount added to	US GAAP Stockholder's Equity	????

2017 Adjustments

Amount deducted from	US GAAP Net Income	????
Amount added to	US GAAP Stockholder's Equity	????