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 in exchange for common stock, and the company paid a $25,200 cash dividend.

I cannot figure out how to get the Net Income

Pequired: 1. Pcpare balance sheels for the business as of December 31 for Yeee 1 and for Year 2 Hent fipont o Answer b cumpletei and cerrect. Coecplete this questien by emarike) your ansers in the tabs below. Recuired infermation [The followerg information apoles to bhe quetstions driplyyed belowe] The accouinting records of Nottie Distribution show the following assets and habidict is Year 2 Required: 1. Prepare balance sheets for the business as of December 34 for Year 1 and for Year 2, Hant R sheet and remriember that total equity equals the d flerence besween assets and labaitien. Answer is cennplete and correct. Camplete this question by entering your answers in the tobs below. Awepiret infior maten T. te