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$)$

$$165,000$

$77,000$

During the first week of January $2021,$ the following cash expenditures were incurred for repairs and maintenance:

Routine maintenance and repairs on the equipment

Major overhaul of the equipment that improved efficiency

$$1,950$

$25,000$

The equipment is being depreciated on a straight$-$line basis over an estimated life of $10$ years with a $$11,000$ 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.$)$

The adjustment for depreciation made last year at the end of $2020.$

The two expenditures for repairs and maintenance during January $2021.$