Waves Corp., which has a calendar fiscal year, purchased its only depreciable capital asset on 1 January 2013. Information related to the asset:

Original cost $900,000

Estimated residual value 107,000

Depreciation method Declining balance

Depreciation rate 30%

In 2015, Waves decreased the estimated residual value to $33,800, and increased the depreciation rate to 40%. Both changes are the result of experience with the asset and revised expectations about the pattern of usage.

Additional information:

	2015				2014
Revenue	$	3,359,000			$	2,781,000
Expenses other than depreciation and tax		1,998,000				1,530,000
Gain (loss) from discontinued operations, before tax		56,100				0
Tax rate		30	%			30	%

Required: 1-a. Calculate the ending 2015 balance of accumulated depreciation. 1-b. Prepare the 2015 entry for depreciation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Provide the condensed comparative statement of comprehensive income for 2015, including disclosures related to the accounting change.

WAVES CORPORATION
Statement of Comprehensive Income
For Year Ended 31 December
	2015	2014
Revenue
Expenses other than depreciation and tax
Depreciation expense
Net income before discontinued operations and tax
Income tax expense
Net income from continuing operations
Discontinued operations gain
Net income and comprehensive income