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Required Information Problem 2-5A (Algo) Computing net income from equity analysis, preparing a balance sheet, and computing the debt ratio LO A2, P1 [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 $ 42,948 23,313 3,677 112,887 44,175 Year 2 $ 6,392 18,277 2,694 120,246 53,175 147,258 36,745 30, 398 84,004 61,290 Problem 2-5A (Algo) Part 2 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 $36,000 additional cash in the business in exchange for common stock, and the company paid a $38,400 cash dividend Equity, December 31. Year 1 Equity, December 31 Year 2