The Canliss Milling Company purchased machinery on January 2, 2016, for $800,000. A five-year life was estimated and no residual value was anticipated. Canliss decided to use the straight-line depreciation method and recorded $160,000 in depreciation in 2016 and 2017. Early in 2018, the company changed its depreciation method to the sum-of-the-years'-digits (SYD) method.

Required:

1. Briefly describe the way Canliss should report this accounting change in the 2017-2018 comparative financial statements.

2. Prepare any 2018 journal entry related to the change.