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Check Required information Problem 2-5A Computing net income from equity analysis, preparing a balance sheet, and computing the debt ratio LO C2, A1, A2, P3
Check Required information Problem 2-5A Computing net income from equity analysis, preparing a balance sheet, and computing the debt ratio LO C2, A1, A2, P3 [The following information applies to the questions displayed below.] Pert 2 of 3 The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019. 2 December 31 2018 2019 $ 54,584 $ 10,561 polnts Cash Accounts receivable Office supplies Office equipment 23,229 3,423 152,824 65,142 187,154 46,703 38,634 133,857 29,629 4,674 143,471 56,142 Trucks Building Land eBook Accounts payable Note payable 77,895 Ask References Problem 2-5A Part 2 2. Compute net income for 2019 by comparing total equity amounts for these two years and using the following information: During 2019, the owner invested $37,000 additional cash in the business (in exchange for common stock) and the company paid a $30,000 cash dividend. Equity, December 31, 2018 ......... .................. Equity, December 31, 2019
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