answer all blank sheets

[The following information applies to the questions displayed below. ] The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2014 and 2015. December 31 2014 2015 Cash $ 53,827 $ 10,290 Accounts receivable 29,218 22,907 Office supplies 4,609 3,376 Ofce equipment 141,482 150,705 Trucks 55,364 64,364 Building 0 184,559 Land 0 46,055 Accounts payable 76,815 38,098 Note payable 0 130,614 Late in December 2015, the business purchased a small office building and land for $230,614. It paid $100,000 cash toward the purchase and a $130,614 note payable was signed for the balance. Mr. Nettle had to invest $34,000 cash in the business (in exchange for common stock} to enable it to pay the $100,000 cash. The business also pays $2,900 cash per month for dividends. Required: 1. Prepare balance sheets for the business as of December 31, 2014 and 2015. (Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities.) NETTLE DISTRIBUTION Balance Sheet December 31, 2014 Assets Liabilities Cash Accounts payable Accounts receivable Office equipment Office supplies Equity Trucks Total equity Total assets $ 0 Total liabilities and equity $ 0 NETTLE DISTRIBUTION Balance Sheet December 31, 2015 Assets Liabilities Cash Accounts payable Accounts receivable Note payable Office equipment Office supplies Trucks Total liabilities Land Equity Building Total equity Total assets $ 0 Total liabilities and equity $ 02. By comparing equity amounts from the balance sheets and using the additional information presented in this problem, prepare a calculation to show how much net income was earned by the business during 2015. Equity, December 31, 2014 _ Add: Stock issuances _ Add: Net income _ Less: Dividends _ Equity, December 31, 2015