Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2017, an asset account for the company showed the following balances: $ Manufacturing equipment Accumulated depreciation through 2016 150,000 60,000 During 2017, the following expenditures were incurred for the equipment: Routine maintenance and repairs on the equipment Major overhaul of the equipment that improved efficiency on January 2, 2017 $ 600 2, 2017 18,000 The equipment is being depreciated on a straight-line basis over an estimated life of 20 years with a $16,000 estimated residual value. The annual accounting period ends on December 31. Required: Indicate the effects (accounts, amounts, and + or - ) of the following on the accounting equation. (Do not round your intermediate calculations.) 1. The adjustment for depreciation at the end of 2016. 2. The two expenditures during 2017. = Liabilities Stockholders' Equity Depreciation expense (6,700) (6,700) Event/Date Assets 1. 2016 Accumulated depreciation 2a. 2017 Repair and maintenance expense Cash 2b. 2017 Equipment Cash Repair and maintenance expense