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Required information The following information applies to the questions displayed below.) Water Company operates a small manufacturing facility. On January 1, 2021, an asset account for the company showed the following balances Equipment $ 110,000 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 53650 Major overhaul of the equipment that improved efficiency 12,000 The equipment is being depreciated on a straight-line basis over an estimated life of 10 years with a $28.000 estimated residual value. The annual accounting period ends on December 31 Required: 1. Indicate the effects accounts, amounts, and for increase and - for decrease) of the 2021 adjustment for depreciation of the manufacturing equipment, assuming no change in the estimated life or residual value (Do not round Intermediate colculations Help Save & Exit Sur Check my work mode: This shows what is correct or incorrect for the work you have completed so far, it does not does not indicate completion Return to question The equipment is being deprecated on a straight line bush over an estimated fe of 10 years with a $28.000 estimated residual value. The annual accounting period ends on December 31 Required: 1. Indicate the effects (accounts, amounts and for increase and for decrease of the 2021 adjustment for depreciation of the manufacturing equipment assuring no change in the estimated life of residual value (Do not round Intermediate calculation Enter any decreases to Assets, Libilities, or Stockholders' Equity with a minus sign) Answer is complete but not entirely correct Date Stockhorst Dec 30 Dent 2009