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 Year 1 $ 44,840 Year 2 $ 7,070 19,083 2,812 125,543 24,340 3,839 Office equipment 117,860 Trucks 46,121 55,121 Building 0 153,746 Land 0 38,364 Accounts payable 63,990 31,737 Note payable 0 92,110 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 $33,000 additional cash in the business in exchange for common stock, and the company paid a $24,000 cash dividend. Equity, December 31, Year 1 Equity, December 31, Year 2