b. For equipment #502, provide the required adjusting entry for depreciation expense at December 31, Year 4. c. For equipment 11502, provide any necessary correcting entry, Ignore income taxes. 1. Equipment a101 with a cost of 56,160 was purchiased three years earlier on fanuary 1. Year 2 . It is being depreciated on astraght tine basis over an estimated useful life of 10 years with no residual walue. At December 31, Year 4 , it has been determined that doe estimated total usetul life is 6 years instead of 10 . residual value. At December 31, Year 4 , it was discovered that no depreciation had been reconded on this equipment foe Year 1 or Year 2 , but it was reconded for Veas 3. 3. in Year 4 , Alexa desided to chunge inwertory methods from the weyghed-worage method to the AFO method. Net income reported in Year 3 applyirg the weighted-average method was 576.000 If fifo had been applied in Year 3 , net income would have been $80,800. - Note: Round answers to the nearest whole dollor. b. For quipment is02, provide she required adjusting entry for depreciution expense st December 31, Yeur 4. d. In reporting comparative income statements in Year 4 , what net income amount is presented for Year 3