Problem 20-6 (Algo) Change in principle; change in depreciation methods [LO20-3) During 2019 and 2020, Faulkner Manufacturing used the sum-of-the-yearsdigits (SYD) method of depreciation for its depreciable assets, for both financial reporting and tax purposes. At the beginning of 2021. Faulkner decided to change to the straight-line method for both financial reporting and tax purposes. A tax rate of 25% is in effect for all years. For an asset that cost $11,200 with an estimated residual value of $1.200 and an estimated useful life of 10 years, the depreciation under different methods is as follows: Yen 2019 2020 Straight Line $1,000 1,000 $2,000 BYD $1,818 1,636 $3,454 Difference 5 818 636 51.454 Required: 1. Prepare the journal entry that Faulkner will record in 2021 related to the change. 2. Suppose Instead that Faulkner previously used straight-line depreciation and changed to sum-of-the-years'. digits in 2021. Prepare the journal entry that Faulkner will record in 2021 related to the change