For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for con- veyor equipment acquired at the beginning of 2021 for $2,560,000. Its useful life was estimated to be six years, with a $160,000 residual value. At the beginning of 2024, Clinton decides to change to the straight-line method. The effect of this change on depreciation for each year is as follows: Required: ($ in thousands) Year Straight Line Declining Balance Difference 2021 $ 400 2022 400 $ 853 569 $453 169 2023 400 $1,200 379 $1,801 (21) $601 1. Briefly describe the way Clinton should report this accounting change in the 2022-2024 comparative finan- cial statements. 2. Prepare any 2024 journal entry related to the change.