How do I find net income?

Answer is complete and correct. NETTLE DISTRIBUTION Balance Sheet December 31, 201 Assets Liabilities $ 51,084Accounts payable $ 72,900 Cash Accounts receivable Office supplies Office equipment Trucks Total assets 27,729 4,374 134,271 Equity 52,542Total equity 197,100 $270,000 $270,000 Total liabilities and equity 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, 2016 and 2017 December 31 2016 2817 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable $ 51,084 $ 9,307 27,729 21,740 3,284 134,271 143,024 52,542 61,542 175,153 43,787 72,980 36,156 0 118,860 4,374 2. Compute net income for 2017 by comparing total equity amounts for these two years and using the following information: During 2017, the owner invested $34,000 additional cash in the business and withdrew $45,600 cash for personal use. Equity, December 31, 2016 Add: Owner's investment Add: Net income $ 197,100 34,000 231,100 Less: Owner withdrawals 45,600 Equity, December 31, 2017 $ 185,500