E9-4 (Algo) Recording Straight-Line Depreciation and Repairs [LO 9-2, LO 9-3) Wiater Company operates a small manufacturing facility, On January 1, 2021, an asset account for the company showed the following balances: 229,500 $ 3,350 Equipment $ 331,000 Accumulated Depreciation (beginning of the year) During the first week of January 2021, the following cash expenditures were incurred for repairs and maintenance Routine maintenance and repairs on the equipment Mejor overhaul of the equipment that improved efficiency 39.000 The equipment is being depreciated on a straight-line basis over an estimated life of 20 years with a $25,000 estimated residual value. The annual accounting period ends on December 31. Required: Indicate the effects (accounts, amounts, and + for increase and for decrease) of the following two items on the accounting equation, using the headings shown below (Enter any decreases to Assets, Llabilitles or Stockholder's tiquity with a minus slgn.) 1. The adjustment for depreciation made last year at the end of 2020 2. The two expenditures for repairs and maintenance during January 2021. Item Assets Liabilities Stockholders' Equity 2020 2021 2021