On December 31, 2020, before the books were closed, the management and accountants of Sweet Inc. made the following determinations about three pieces of equipment. 1. 2. 3. Equipment A was purchased January 2, 2017. It originally cost $543,000 and, for depreciation purposes, the straight-line method was originally chosen. The asset was originally expected to be useful for 10 years and have a zero salvage value. In 2020, the decision was made to change the depreciation method from straight-line to sum-of-the-years'-digits, and the estimates relating to useful life and salvage value remained unchanged. Equipment B was purchased January 3, 2016. It originally cost $187,500 and, for depreciation purposes, the straight-line method was chosen. The asset was originally expected to be useful for 15 years and have a zero residual value. In 2020, the decision was made to shorten the total life of this asset to 9 years and to estimate the residual value at $3,000. Equipment C was purchased January 5, 2016. The asset's original cost was $161,600, and this amount was entirely expensed in 2016. This particular asset has a 10-year useful life and no residual value. The straight-line method was chosen for depreciation purposes. Additional data: 1. Income in 2020 before depreciation expense amounted to $399,900. 2. Depreciation expense on assets other than A, B, and C totaled $55,500 in 2020. 3. Income in 2019 was reported at $373,000. 4. Ignore all income tax effects. 5. 99,300 shares of common stock were outstanding in 2019 and 2020.