For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for con- veyor equipment acquired at the beginning of 2018 for $2,560,000. Its useful life was estimated to be six years with a $160,000 residual value. At the beginning of 2021, Clinton decides to change to the straight-line method. The effect of this change on depreciation for each year is as follows: Year 2018 ($ in thousands) Declining Balance $ 853 569 379 $1,801 Straight-Line $ 400 400 400 $1,200 2019 2020 Difference $453 169 (21) $601 Required: 1. Will Clinton apply the straight-line method retrospectively or apply the straight-line method prospectively? 2. Prepare any 2021 journal entry related to the change