Waves Corp., which has a calendar fiscal year, purchased its only depreciable capital asset on $1$ January $20$X$3.$ Information related to the asset:

Original cost $ $890,000$

Estimated residual value $105,800$

Depreciation method Declining balance

Depreciation rate $30\%$

In $20$X$5,$ Waves decreased the estimated residual value to $$33,600,$ 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:

$20$X$520$X$4$

Revenue $ $3,358,000$ $ $2,778,000$

Expenses other than depreciation and tax $1,997,0001,527,000$

Gain $($loss$)$ from discontinued operations, before tax $56,1000$

Tax rate $30\%30\%$

Required:

$1-$a$.$ Calculate the ending $20$X$5$ balance of accumulated depreciation.

$1-$b$.$ Prepare the $20$X$5$ 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 $20$X$5,$ including disclosures related to the accounting change.