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) i $131,000 229,500 During the first week of January 2021, the following cash expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the equipment Major overhaul of the equipment that improved efficiency $3,350 39,000 The equipment is being depreciated on a straight-line basis over an estimated life of 20 years with a $25.000 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 em Assets 2020 2001 Accumulated Depreciation Equipment Equipment (15.300- 39.000 2021 Cash (42.350) Liabilities Stockholders' Equity . Retained Earmings (15,300) Retained Eamings (3.350) .