Whaley Distributors is a wholesale distributor of electronic... Whaley Distributors is a wholesale distributor of electronic components. Financial statements for the year ended December 31, 2018, reported the following amounts and subtotals ($ in millions): Shareholders Assets Liabilities Equity Net Income Expenses 2017 $640 $330 $310 $210 $150 2018 $820 $400 $420 $230 $175 In 2019, the following situations occurred or came to light: a. Internal auditors discovered that ending inventories reported in the financial statements the two previous years were misstated due to faulty internal controls. The errors were in the following amounts: 2017 Inventory Overstated by $12 Million 2018 Inventory Understated by $10 Million b. A patent costing $18 million at the beginning of 2017, expected to benefit operations for a total of six years has not been amortized since acquired. c. Whaley's conveyor equipment has been depreciated by the sum-of-the years'-digits (SYD) method since constructed at the beginning of 2017 at a cost of $30 million. It has an expected useful life of five years and no expected residual value. At the beginning of 2019, Whaley decided to switch to straight-line depreciation. Required for each: What are the journal entries necessary as a direct result of the change or error correction as well as any adjusting entry for 2019 related to the situation described (ignore tax effects)? What are the amounts to be reported for each of the items shown above from the 2017 and 2018 financial statements when those amounts are reported again in 2019, 2018 and 2017 comparative financial statements