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answer question 2 Required information [The following information applies to the questions displayed below.) The accounting records of Nettle Distribution show the following assets and
answer question 2
Required information [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, 2018 and 2019. December 31 Cash Accounts receivable Office supplies office equipment Trucks Building Land Accounts payable Note payable 2018 2019 $ 47,962 $ 8,188 26,034 20,411 4,107 3,008 126,066 134,284 49,331 58,331 0 164,449 0 41,037 68, 445 33,947 0 105,486 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 $32,000 additional cash in the business (in exchange for common stock) and the company paid a $30,000 cash dividend. Equity, December 31, 2018 Equity, December 31, 2019 $ 0Step by Step Solution
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