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, 2018 and 2019. December 31 Cash Accounts receivable Office supplies office equipment Trucks Building Land Accounts payable Note payable 2018 $ 56,287 30,553 4,820 147,947 57,893 0 0 80, 325 0 2019 $ 11,172 23,954 3,530 157,591 66,893 192,993 48,159 39,839 141,152 Required: 1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities. Required: 1. Prepare balance sheets for the business as of December 31, 2018 and 2019. 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, 2018 Assets Liabilities Equity Total equity 0 Total liabilities and equity Total assets $ $ 0 NETTLE DISTRIBUTION Balance Sheet December 31, 2019 Assets Liabilities Total liabilities $ 0 Equity Total equity 0 Total liabilities and equity Total assets $ 0 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, 2018 and 2019. December 31 Cash Accounts receivable Office supplies office equipment Trucks Building Land Accounts payable Note payable 2018 $ 56,287 30,553 4,820 147,947 57,893 0 0 80, 325 0 2019 $ 11,172 23,954 3,530 157,591 66,893 192,993 48,159 39,839 141,152 Required: 1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities. Required: 1. Prepare balance sheets for the business as of December 31, 2018 and 2019. 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, 2018 Assets Liabilities Equity Total equity 0 Total liabilities and equity Total assets $ $ 0 NETTLE DISTRIBUTION Balance Sheet December 31, 2019 Assets Liabilities Total liabilities $ 0 Equity Total equity 0 Total liabilities and equity Total assets $ 0