The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017. December 31 2016 2017 Cash $ 56,098 $ 11,104 Accounts receivable 30,451 23,873 Office supplies 4,803 3,518 Office equipment 147,449 157,062 Trucks 57,699 66,699 Building 0 192,344 Land 0 47,997 Accounts payable 80,055 39,705 Note payable 0 140,341

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 and withdrew $44,400 cash for personal use.

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, 2016 and 2017. December 31 Cash Accounts receivable Office supplies office equipment Trucks Building Land Accounts payable Note payable 2016 2017 $ 56,098 $ 11,104 30,451 23,873 4,803 3,518 147,449 157,062 57,699 66,699 192,344 47,997 80,055 39,705 0 140, 341 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 and withdrew $44,400 cash for personal use. Equity, December 31, 2016 Equity, December 31, 2017