[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 for Year 1 and Year 2. December 31 Cash Accounts receivable Office supplies 21,498 3,168 Year 1 $50,516 Year 2 $9,104 27,421 office equipeent 4,325 132,779 141,435 Trucks 51,959 60,959 Building 0 173,207 Land 43,221 Accounts payable 72,090 Note payable 35,755 116,428 2. Compute net income for Year 2 by comparing total equity amounts for these two years and using the following information: During Year 2, the owner invested $32,000 additional cash in the business and withdrew $28,800 cash for personal use. Equity, December 31, Year 1 Add Net income Add: Owner's investment 32,000 32,000 Less Owner withdrawals 28,800 Equity, December 31, Year 2 $ 3,200