Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of the current year, an asset account for the company showed the following balances: During the current year, the following expenditures were incurred for the equipment: Major overhaul of the equipment on January 2 the current year that improved efficiency Routine repairs on the equipment. 16,00e 1,90e The equipment is being depreciated on a straight-line basis over an estimated life of 16 years with a $11,000 estimated residual value. The annual accounting period ends on December 31. Required: 1. Prepare the adjusting entry that was made at the end of last year for depreciation on the manufacturing equipment. Note: Do not round your intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required in the first account field. Journal entry worksheet Record the adjusting entry for depreciation on the manufacturing equipment at the end of last year. Notes Enter debits before credits