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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
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 2 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 $33,000 additional cash in the business and withdrew $25,200 cash for personal use. Equity, December 31, 2018 0 Equity, December 31, 2019 0
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