The Canliss Milling Company purchased machinery on January 2, 2019, 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 2019 and 2020. Early in 2021, the company changed its depreciation method to the sum-of-the-years’-digits (SYD) method.

Required:
1. Will Canliss apply the straight-line method retrospectively or apply the method prospectively?
2. Prepare any 2021 journal entry related to the change.