Cowley Company just completed its first year of operations. The December 31 equipment account has a balance of $20,000. There is no balance in the Accumulated Depreciation Equipment account or in the Depreciation Expense account. The accountant estimates the yearly equipment depreciation to be $4,000. Prepare the required adjustment to record the yearly depreciation for equipment Note: Use negative signs with answers, when appropriate. Balance Sheet Income Statement Assets Liabilities Stockholders Equity + Revenues Expenses Net Income