Required information [The following information applies to the questions displayed below The accounting records of Nettle...

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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 Cash Accounts receivable Year 1 $ 64,300 office supplies 26,240 3,100 office equipment 44,000 Year 2 $ 15,640 19,100 1,960 44,000 Trucks 148,000 157,000 Building . 00,000 Land 60,000 Accounts payable 3,500 33,500 Note payable 40,000 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 $35,000 additional cash in the business and withdrew $19,000 cash for personal use. Equity, December 31, Year 1 Aad Owner's investment Add Net income $ 282.200 35,000 317,200 Less Owner withdrawals 19,000 Equity, December 31, Year 2 $ 290.200 < Prev 4 Next > Check my work 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 Year 1 $ 64,300 office supplies 26,240 3,100 office equipment 44,000 Year 2 $ 15,640 19,100 1,960 44,000 Trucks 148,000 157,000 Building . 00,000 Land 60,000 Accounts payable 3,500 33,500 Note payable 40,000 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 $35,000 additional cash in the business and withdrew $19,000 cash for personal use. Equity, December 31, Year 1 Aad Owner's investment Add Net income $ 282.200 35,000 317,200 Less Owner withdrawals 19,000 Equity, December 31, Year 2 $ 290.200 < Prev 4 Next > Check my work