Required Information M7-15 Preparing the Journal Entry to Record Lower of Cost or Market/Net Realizable Value (LCM/NRV) Adjustment [LO 7-4 [The following information applies to the questions displayed below.) During fiscal 2014, Respberry, Inc. wrote down Its RB10 smartphone Inventory by approximately $1,698,000,000 because Its cost exceeded its net realizable value. M7-15 Part 1 Required: 1. Complete the table below, indicating the account, amount, and direction and show the effects for the above adjustment (Enter any decreases to account balances with a minus sign.) Assets Labs Stockholders' Equity M7-15 Preparing the Journal Entry to Record Lower of Cost or Market/Net Realizable Value (LCM/NRV) Adjustment (LO 7-4) [The following information applies to the questions displayed below.] During fiscal 2014, Respberry, Inc. wrote down its RB10 smartphone Inventory by approximately $1,698,000,000 because its cost exceeded its net realizable value. 7-15 Part 1 squired: Complete the table below, indicating the account, amount, and direction and show the effects for the above adjustment (Enter any decreases to account balances with a minus sign.) Liabilities Stockholders' Equity