Wiater Company operates a small manufacturing facility. On January 1, 2021, an asset account for the company showed the following balances: Equipment Accumulated Depreciation (beginning of the year) $244,000 152,000 During the first week of January 2021, the following cash expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the equipment $2,65032,000 Major overhaul of the equipment that improved efficiency The equipment is being depreciated on a straight-line basis over an estimated life of 15 years with a $16,000 estimated residual value. The annual accounting period ends on December 31. Required: Indicate the effects (accounts, amounts, and + for increase and - for decrease) of the following two items on the accounting equation, using the headings shown below. (Enter any decreases to Assets, Liabilities or Stockholder's Equity with a minus sign.) 1. The adjustment for depreciation made last year at the end of 2020 . 2. The two expenditures for repairs and maintenance during January 2021. \begin{tabular}{|c|c|c|c|c|c|} \hline Item & Assets & = & Liabilities & + & Stockholders' Equity \\ \hline 2020 & & = & & + & \\ \hline 2021 & & = & & + & \\ \hline 2021 & & = & & + & \\ \hline \end{tabular}