Required information (The following information applies to the questions displayed below.) Wiater Company operates a small manufacturing facility. On January 1, 2018, an asset account for the company showed the following balances: Equipment Accumulated Depreciation (beginning of the year) $160,000 100,000 During the first week of January 2018, the following expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the equipment Major overhaul of the equipment that improved efficiency $ 1,850 24,000 The equipment is being depreciated on a straight-line basis over an estimated life of 15 years with a $10,000 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 2018 adjustment for depreciation of the manufacturing equipment, assuming no change in the estimated life or residual value. (Do not round intermediate calculations. Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Liabilities Stockholders' Equity Date Assets December 31, 2018 Accumulated Depreciation