[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 office equipment Trucks Building Land Accounts payable. Note payable Year 1 $ 46,732 25,367 4,001 122,833 48,067 0 66,690 Year 2 $7,748 19,888 2,931 130,841 57,067 160,233 39,982 33,077 100,215 Required information Complete this question by entering your answers in the tabs below. Balance Sheet Balance Sheet Year 1 Year 2 Prepare the balance sheet for the business as of December 31 for Year 1. Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities. Cash Total assets Assets $ NETTLE DISTRIBUTION Balance Sheet December 31, Year 1 + Liabilities < Prev Equity Total equity 0 Total liabilities and equity 3 2 3 4 $ 7 of 8 Next > Year 1 xxxxxx Total assets Year 2 Prepare the balance sheet for the business as of December 31 for Year 2. Hint: Report only total equity on and remember that total equity equals the difference between assets and liabilities. Assets NETTLE DISTRIBUTION Balance Sheet December 31, Year 2 Total liabilities Liabilities Balance Sheet Year 1 Equity Total equity 0 Total liabilities and equity