Whaley Distributors is a wholesale distributor of electronic components. Financial statements for the years ended December $31,2022$

and $2023,$ reported the following amounts and subtotals $($$ in millions$)$:

In $2024,$ the following situations occurred or came to light:

a$.$ Internal auditors discovered that ending inventories reported on the financial statements the two previous years were misstated

due to faulty internal controls. The errors were in the following amounts:

$2022$ inventory Overstated by $$11\mathrm{.}0$ million

$2023$ inventory Understated by $$9\mathrm{.}0$ million

b$.$ A liability was accrued in $2022$ for a probable payment of $$5\mathrm{.}0$ million in connection with a lawsuit ultimately settled in December

$2024$ for $$3\mathrm{.}0$ million.

c$.$ A patent costing $$12\mathrm{.}0$ million at the beginning of $2022,$ expected to benefit operations for a total of six years, has not been

amortized since acquired.

d$.$ Whaley's conveyer equipment was depreciated by the sum$-$of$-$the$-$years'$-$digits $($SYD$)$ basis since it was acquired at the beginning

of $2022$ at a cost of $$15\mathrm{.}0$ million. It has an expected useful life of five years and no expected residual value. At the beginning of

$2024,$ Whaley decided to switch to straight$-$line depreciation.

Required:

For each situation:

Prepare any journal entry necessary as a direct result of the change or error correction, as well as any adjusting entry for $2024$

related to the situation described. $($Ignore tax effects.$)$

Determine the amounts to be reported for each of the five accounts shown above from the $2022$ and $2023$ financial statements

when those amounts are reported again in the $2022-2024$ comparative financial statements.