Question 2, Part A: Evergreen Ltd. purchased a cold storage unit on January 1,2013, at a cost ofs640,000. The unit was depreciated using the straight-line method over an estimated 10-year useful life with an estimated residual value of$40,000. On January 1, 2016, the estimate of useful life was changed to a total of 12 years, and the estimate of residual value was changed to S20,000. Required: 1. Prepare the appropriate adjusting entry for depreciation in 2016 to reflect the revised estimate