Whaley Distributors is a wholesale distributor of electronic components. Financial statements for the years ended December 31,2019 and 2020, reported the following amounts and subtotals ( $ in millions): In 2021, 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: b. A liability was accrued in 2019 for a probable poyment of $7 million in connection with a lawsult ultimately setticd in December 2021 for $4 mililion. c. A patent costing $18 million at the beginning of 2019, expected to benefit operations for a cotal of six years. has not been amortized since acquired. d. Whaley's conveyer equipment was depreciated by the suim-of the-years'digits (SYD) basis since it was acquired at the beginning of 2019 at a cost of $30 mition. It has an expected useful life of flve years and no expected residual value. At the beginning of 2021 , Whaley decided to swithch to straight-ine depreciation. Required: For each situation: 1. Prepare any Journal entry necessary as a direct result of the change or error correction, as weil as any adjusting entyy for 2021 related to the situstion described. (ignore tax effects) 2. Dotermine the amounts to be reported for each of the five items shown above from the 2019 and 2020 financial statements when those ampunts are reported again in the 2019-2021 comparative financial statements Conspteta this question by entering your anawere in the tabs below