Wiater Company operates a small manufacturing facility. On January 1, 2015, an asset account for the company showed the following balances: Equipment Accumulated Depreciation (beginning of the year) $230,000 108,000 During the first week of January 2015, the following expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the equipment Major overhaul of the equipment that improved efficiency $ 2.250 28,000 The equipment is being depreciated on a straight-line basis over an estimated life of 20 years with a $14,000 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 2014. 2. The two expenditures for repairs and maintenance during January 2015. Item Assets Liabilities Stockholders' Equity 2014 2015