-- 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.] The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017. December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable 2016 $ 64,300 26,240 3,160 44,000 148,000 0 2017 $ 15,640 19,100 1,960 44,000 157,000 80,000 60,000 33,500 40,000 0 3,500 0 Problem 2-5A Part 2 2. Compute net income for 2017 by comparing total equity amounts for these two years and using the following information: During 2017, the owner invested $35,000 additional cash in the business (in exchange for common stock) and the company paid $19,000 cash in dividends. Equity, December 31, 2016 0 Equity, December 31, 2017 $ 0