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	$ 54,017	$ 10,358
Accounts receivable	29,321	22,988
Office supplies	4,625	3,388
Office equipment	141,979	151,235
Trucks	55,558	64,558
Building	0	185,208
Land	0	46,216
Accounts payable	77,085	38,232
Note payable	0	131,424

Required: 1. Prepare balance sheets for the business as of December 31 for Year 1 and for Year 2. Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities.