! 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 for Year 1 and Year 2. December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable Year 1 $ 56,665 30,759 4,852 148,941 58,283 0 0 80,865 0 Year 2 $ 11,307 24, 115 3,554 158,651 67,283 194,290 48,482 40,107 142,772 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 $34,000 additional cash in the business in exchange for common stock, and the company paid a $44,400 cash dividend. Equity, December 31, Year 1 Equity, December 31, Year 2