E8-8 (Algo) Determining Financial Statement Effects of Depreciation and Repairs (Straight-Line Depreciation) LO8-2, 8-3 Hulme Company operates a small manufacturing facility as a supplement asset account for the company showed the following balances: its regular service activities. At the beginning of 2020, an Manufacturing equipment Accumulated depreciation through 2019 $170,000 66,000 During 2020, the following expenditures were incurred for the equipment: Major overhaul of the equipment on January 2, 2020, that improved efficiency Routine maintenance and repairs on the equipment $ 7,000 1,700 The equipment is being depreciated on a straight-line basis over an estimated life of 20 years with a $14,000 estimated residual value. The annual accounting period ends on December 31. Required: Indicate the effects of the following on the accounting equation. (Enter decreases to account categories as negative amounts and do not round your intermediate calculations.) 1. The adjustment for depreciation at the end of 2019. 2. The two expenditures during 2020 for (a) the major overhaul of the equipment and (b) repairs and maintenance. Assets Liabilities Stockholders' Equity Event/Date 1. 2019 2a. 2020 2b. 2020 E9-10 (Algo) Using Working Capital LO 9-5 Coastal's balance sheet for a recent year revealed the following information: Current assets Noncurrent assets Noncurrent liabilities Stockholders' equity $830,000 540,000 370,000 440,000 Determine the amount of working capital reported in the balance sheet. Working capital