$ 3 NETTLE DISTRIBUTION 4 5 December 31 6 December 31 2012 2013 7 8 Cash $ 64,300 $ 15,640 9 Accounts receivable 26,240 19,390 10 Office supplies 3,160 1,960 11 Office equipment 44,000 44,000 12 Trucks 148,000 157,000 13 Building 80,000 14 Land 60,000 15 Accounts payable 3,500 33,500 16 Note payable 40,000 17 18 Cost of building and land $ 140,000 19 Cash paid for building and land 100,000 20 Note payable signed for building and land 40,000 21 Cash Nettle invested in business 35,000 22 Nettle's draws per month for personal use 3,000 23 24 Check figures: 25 (2) Net income $ 23,290 26 (3) Debt ratio 19.40% 27 28 29 AutoSave TO HW1 - Compatibility Mode - Excel File Home Insert Draw Page Layout Formulas Data Review View Developer Add-ins Help Power Piv 010 fo A B G K D E Balance Sheet December 31, 2012 Assets Liabilities Accounts payable Cash Accounts receivable 2 Office supplies 3 Trucks Office equipment 5 Total assets Equity Total equity Total liabilities and equity NETTLE DISTRIBUTION Balance Sheet December 31, 2013 Assets Liabilities Accounts payable Note payable Total liabilities Cash Accounts receivable Office supplies Trucks Office equipment Building Land Total Assets Owner's Equity Nettle, Capital Total liabilities and equity NETTLE DISTRIBUTION Computation of 2013 Net Income PO2-02A Given PO2-02A PO2-044 Given P02.04A Tulai labilities Owner's E Nettle, Capital Total liabilities and equity 26 Trucks 27 Office equipment 28 Building 29 Land 30 Total Assets 31 32 33 NETTLE DISTRIBUTION 34 Computation of 2013 Net Income 35 36 Equity, December 31, 2012 37 Equity, December 31, 2013 38 Increase in equity in 2013 39 40 41 Owner investment 42 Add net income 43 Add withdrawals 44 Net income earned in 2011 45 46 47 NETTLE DISTRIBUTION 48 Debt Ratio Calculation 49 50 Debt Ratio 51 52 PO2-02A Given PO2-02A PO2-04A Given PO2-04A Ready LO