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The accounting records of Nettle Distribution show the following assets and liabilities as...

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Accounting

The accounting records of Nettle Distribution show the following assets and liabilities as of December 31 for Year 1 and Year 2.December 31Year 1Year 2Cash$ 64,300$ 15,640Accounts receivable26,24019,100Office supplies3,1601,960Office equipment44,00044,000Trucks148,000157,000Building080,000Land060,000Accounts payable3,50033,500Note payable040,0002. 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 $35,000 additional cash in the business in exchange for common stock, and the company paid a $19,000 cash dividend.

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