[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	2016			2017
Cash	$	42,759		$	6,324
Accounts receivable		23,210			18,197
Office supplies		3,661			2,682
Office equipment		112,390			119,717
Trucks		43,980			52,980
Building		0			146,610
Land		0			36,583
Accounts payable		61,020			30,264
Note payable		0			83,193

Required: 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.)