Wiater Company operates a small manufacturing facility. On January 1, 2021, an asset account for the company showed the following balances: Equipment AccumulatedDepreciation(beginningoftheyear)220,000101,500 During the first week of January 2021, the following cash expenditures were incurred for repairs and maintenance: Routine maintenance and repoirs on the equipment Majoroverhauloftheequipmentthatimprovedefticiency31,e0e52,550 The equipment is being depreciated on a straight-line basis over an estimated life of 20 years with a $17,000 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 litems on the occounting 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