Please read Harnischfeger Corp.article and answer each question below:
Harnischfeger
- Describe clearly each the accounting changes Harnischfeger made in 1984 as stated in
Note 2 of its financial statements - What is the monetary effect of the depreciation accounting method change on the
reported income in 1984? How and by how much ($) will this change affect profits in
future years? - What is the monetary effect of the depreciation lives change? How and by how much
($) will this change affect future reported profits?