The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019.

Required
1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equity on the balance sheetand remember that total equity equals the difference between assets and liabilities.

2. Compute net income for 2019 by comparing total equity amounts for these two years and using the following information:During 2019, the owner invested $35,000 additional cash in the business and withdrew $19,000 cash for personal use.

3. Compute the 2019 year-end debt ratio (in percent and rounded to one decimal).

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December 31 2019 2019 2018 December 31 2018 Cash .. Accounts receivable. Office supplies Office equipment Trucks ... $ 64,300 26,240 3,160 44,000 148,000 $ 15,640 19,100 Building.... $80,000 60,000 33,500 40,000 Land 1,960 44,000 157,000 Accounts payable. Note payable 3,500