Hi, I need help with the parts indicated in red.

X Corporation follows IFRS. In preparing its 2017 financial statements, it wants to make two changes. 1. Depreciation In 2017, X Corporation decides that it should have been using straight-line depreciation instead of CCA depreciation for the previous years and going forward. Excess of CCA over straight-line: Prior to 2016 2016 2017 $1,370,000 $106.400 $104,500 $1,580,900 Depreciation is charged 75% to cost of sales and 25% to SGA expense. 2. Bad Debt Expense X Corporation previously recognized bad debt expense as 1.5% of net sales. In 2017, it wants to recognize bad debt expense as 1.75% of net sales. Bad debt expense is charged 100% to SGA expense. Following are the preliminary financial statements that were prepared before including the effects of the two above changes. X CORPORATION Statement of Financial Position As at December 31 2017 2016 2015 Current assets 28,340,000 29,252,000 28,454,000 42,568,000 Plant assets, at cost 45,792,000 43,974,000 (23,761,000) (22,946,000) (22,429,000) Less: Accumulated depreciation Other long-term assets 15,221,000 14,648,000 14,282,000 Total assets 65,592,000 64,928,000 62,875,000 Current liabilities 21,124,000 26,603,200 23,650,000 14,097,000 Long-term debt 15,154,000 13,540,000 Share capital 11,620,000 11,620,000 11,620,000 Retained earnings 17,694,000 15,561,000 11,111,800 Total liabilities and SHE 65,592,000 64,928,000 62,875,000 * Includes deferred tax asset of $225,000 (2017) and $234,000 (2016) with the latter amount being the result of deductible temporary differences that occurred before 2016. X CORPORATION Income Statement Year Ended December 31 2017 2016 Net Sales 78,920,000 80,520,000 (54,847,000) Cost of Sales (53,074,000) 25,673,000 25,846,000 SGA Expense (19,540,000) (18,411,000) 6,133,000 7,435,000 (1,079,000) Other expense, net (1,198,000) Income before tax 4,935,000 Tax (1,480,500) 3,454,500 6,356,000 (1,906,800) 4,449,200 Net income Other Information: - Dividends of $1,321,500 were declared on December 31, 2017 - There have been no temporary differences between any book and tax items prior to the above changes except for those that involve the allowance for doubtful accounts. - For tax purposes, bad debts are deductible only when they are written off. - The tax rate is 30%. QUESTION 1: For each of the following, calculate the amounts that would appear on the comparative (2017 and 2016) financial statements after adjustment for the two accounting changes. Show amounts for both 2017 and 2016, and prepare supporting schedules as necessary. December 31, 2016 21,469,600 December 31, 2017 22,180,100 Accumulated Depreciation Deferred tax asset/liability 442,920 -29,040 SGA expense 18,384,400 19,715,175 Current income tax expense 1,938,600 1,451,355 Deferred tax expense -31,800 29,145 Supporting Calculations: Adjusted Accumulated Depreciation 2016 - Acc. dep. 2016 - excess dep. charged prior to 2016 - excess dep. charged 2016 = 22,946,000 - 1,370,000 - 106,400 = 21,469,600 Adjusted Accumulated Depreciation 2016 - Adj. acc. dep. 2016 + depreciation 2017 - excess dep. charged 2017 = 21,469,600 + (23,761,000-22,946,000) - 104,500 = 22,180,100 Deferred Tax Liability 2016 = (Excess dep. charged prior to 2016 + excess dep. charged 2016) * Tax rate = (1,370,000 + 106,400) * 30% = 442,920 Deferred Tax Asset 2017 = (Excess dep. charged 2017 + excess allowance on bad debts) * Tax rate = [104,500 - [80,520,000 * (0.015-0.0175)]] * 30% = [104,500 - 201,300] * 30% = (29,040) Previously Tried: (29,145), (29,040) Adjusted SGA Expense 2016 = SGA 2016 - (25% * excess dep. 2016) = 18,411,000 - (25% * 106,400) = 18,384,400 SGA Expense 2017 = SGA 2017 - (25% * excess dep. 2017) + bad debt expense = 19,540,000 - (25% * 104,500) + 201,300 = 19,715,175 X Corporation follows IFRS. In preparing its 2017 financial statements, it wants to make two changes. 1. Depreciation In 2017, X Corporation decides that it should have been using straight-line depreciation instead of CCA depreciation for the previous years and going forward. Excess of CCA over straight-line: Prior to 2016 2016 2017 $1,370,000 $106.400 $104,500 $1,580,900 Depreciation is charged 75% to cost of sales and 25% to SGA expense. 2. Bad Debt Expense X Corporation previously recognized bad debt expense as 1.5% of net sales. In 2017, it wants to recognize bad debt expense as 1.75% of net sales. Bad debt expense is charged 100% to SGA expense. Following are the preliminary financial statements that were prepared before including the effects of the two above changes. X CORPORATION Statement of Financial Position As at December 31 2017 2016 2015 Current assets 28,340,000 29,252,000 28,454,000 42,568,000 Plant assets, at cost 45,792,000 43,974,000 (23,761,000) (22,946,000) (22,429,000) Less: Accumulated depreciation Other long-term assets 15,221,000 14,648,000 14,282,000 Total assets 65,592,000 64,928,000 62,875,000 Current liabilities 21,124,000 26,603,200 23,650,000 14,097,000 Long-term debt 15,154,000 13,540,000 Share capital 11,620,000 11,620,000 11,620,000 Retained earnings 17,694,000 15,561,000 11,111,800 Total liabilities and SHE 65,592,000 64,928,000 62,875,000 * Includes deferred tax asset of $225,000 (2017) and $234,000 (2016) with the latter amount being the result of deductible temporary differences that occurred before 2016. X CORPORATION Income Statement Year Ended December 31 2017 2016 Net Sales 78,920,000 80,520,000 (54,847,000) Cost of Sales (53,074,000) 25,673,000 25,846,000 SGA Expense (19,540,000) (18,411,000) 6,133,000 7,435,000 (1,079,000) Other expense, net (1,198,000) Income before tax 4,935,000 Tax (1,480,500) 3,454,500 6,356,000 (1,906,800) 4,449,200 Net income Other Information: - Dividends of $1,321,500 were declared on December 31, 2017 - There have been no temporary differences between any book and tax items prior to the above changes except for those that involve the allowance for doubtful accounts. - For tax purposes, bad debts are deductible only when they are written off. - The tax rate is 30%. QUESTION 1: For each of the following, calculate the amounts that would appear on the comparative (2017 and 2016) financial statements after adjustment for the two accounting changes. Show amounts for both 2017 and 2016, and prepare supporting schedules as necessary. December 31, 2016 21,469,600 December 31, 2017 22,180,100 Accumulated Depreciation Deferred tax asset/liability 442,920 -29,040 SGA expense 18,384,400 19,715,175 Current income tax expense 1,938,600 1,451,355 Deferred tax expense -31,800 29,145 Supporting Calculations: Adjusted Accumulated Depreciation 2016 - Acc. dep. 2016 - excess dep. charged prior to 2016 - excess dep. charged 2016 = 22,946,000 - 1,370,000 - 106,400 = 21,469,600 Adjusted Accumulated Depreciation 2016 - Adj. acc. dep. 2016 + depreciation 2017 - excess dep. charged 2017 = 21,469,600 + (23,761,000-22,946,000) - 104,500 = 22,180,100 Deferred Tax Liability 2016 = (Excess dep. charged prior to 2016 + excess dep. charged 2016) * Tax rate = (1,370,000 + 106,400) * 30% = 442,920 Deferred Tax Asset 2017 = (Excess dep. charged 2017 + excess allowance on bad debts) * Tax rate = [104,500 - [80,520,000 * (0.015-0.0175)]] * 30% = [104,500 - 201,300] * 30% = (29,040) Previously Tried: (29,145), (29,040) Adjusted SGA Expense 2016 = SGA 2016 - (25% * excess dep. 2016) = 18,411,000 - (25% * 106,400) = 18,384,400 SGA Expense 2017 = SGA 2017 - (25% * excess dep. 2017) + bad debt expense = 19,540,000 - (25% * 104,500) + 201,300 = 19,715,175