The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017.

December 31	2016			2017
Cash	$	42,665		$	6,290
Accounts receivable		23,159			18,157
Office supplies		3,653			2,676
Office equipment		112,141			119,452
Trucks		43,882			52,882
Building		0			146,285
Land		0			36,503
Accounts payable		60,885			30,197
Note payable		0			82,788

1. Prepare balance sheets for the business as of December 31, 2016 and 2017. (Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities.)

2. Compute net income for 2017 by comparing total equity amounts for these two years and using the following information: During 2017, the owner invested $33,000 additional cash in the business (in exchange for common stock) and the company paid $33,600 cash in dividends.

3. Compute the 2017 year-end debt ratio for the business.

NETTLE DISTRIBUTION Balance Sheet December 31, 2016 Assets Liabilities Equity Total equity 0 Total liabilities and equity Total assets Equity, December 31, 2016 Equity, December 31, 2017 Debt Ratio Choose Numerator:I Choose Denominator: Debt Ratio Debt ratio Accounts receivable Cost of goods sold Current assets Current liabilities