Check m The accounting records of Nettle Distribution show the following assets and liabilities as of December 31 for Year 1 and Year 2. December 31 Cash Accounts receivable Year 1 $ 64,300 Year 2 $ 15,640 26,240 19,100 Office supplies 3,160 1,960 Office equipment 44,000 44,000 Trucks 148,000 157,000 Building 0 80,000 Land 0 60,000 Accounts payable 3,500 33,500 Note payable 0 40,000 ces 2. Compute net income for Year 2 by comparing total equity amounts for these two years and using the following information: During Year 2, the owner invested $35,000 additional cash in the business and withdrew $19,000 cash for personal use. Equity, December 31, Year 1 $ 282,200 Add: Owner's investment 35,000 Add: Net income Less: Owner withdrawals 317,200 19,000 Equity, December 31, Year 2 $ 298,200