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 $ 49,854 27,061 4,269 131,039 51,277 Year 2 $ 8,866 21,216 3,127 139,581 60,277 170,936 42,656 35,286 113,592 8 71,145 @ Prepare the balance sheet for the business as of December 31 for Year 1. 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, Yoar 1 Assets Liabilities $ 0 Total liabilities Equity Total equity Total liabilities and equity $ 0 Total assets Prepare the balance sheet for the business as of December 31 for Year 2. 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, Year 2 Assets Liabilities $ 0 Total liabilities Equity Total equity Total liabilities and equity $ Total assets $ 0