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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

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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 Year 1 Year 2 Cash $ 49,854 $ 8,866 Accounts receivable 27,061 21,216 Office supplies 4,269 3,127 Office equipment 131,039 139,581 Trucks 51,277 60,277 Building @ 170,936 Land @ 42,656 Accounts payable 71,145 35,286 Note payable 113,592 @ 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 $37.000 additional cash in the business in exchange for common stock, and the company peld a $38,400 cash dividend Equity, December 31, Year 1 Equity, December 31, Year 2

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