Required information Problem 2-5A Computing net income from equity analysis, preparing a balance sheet, and computing the debt ratio LO C2, A1, A2, P3 (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 $ 42,665 $ 6,290 23, 159 18,157 3,653 2,676 112,141 119,452 43,882 52,882 0 146,285 0 36,503 60,885 30,197 0 82,788 Problem 2-5A Part 1 Required: 1. Prepare balance sheets for the business as of December 31, 2018 and 2019. 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, 2018 Assets Liabilities Equity Total equity 0 Total liabilities and equity Total assets $ $ 0 NETTLE DISTRIBUTION Balance Sheet December 31, 2019 Assets Liabilities Total liabilities 0 Equity Total equity 0 Total liabilities and equity Total assets $ $ 0