Question: Need help in accounting please. Problem 2-5A (Algo) Computing net income from equity analysis, preparing a balance sheet, and computing the debt ratio LO A2,

 Need help in accounting please. Problem 2-5A (Algo) Computing net income

Need help in accounting please.

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 $ 44,178 23,980 3,783 116, 12e 45,439 Year 2 $ 6,832 18,891 2,771 123,689 54,439 151,475 37,799 31,269 89, 274 @ 63,45 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 $34.000 additional cash in the business and withdrew $48.000 cash for personal use. Equity, December 31, Year 1 Add: Net income 0 Equity, December 31, Year 2 S 0

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