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 $ 56, 476 30, 656 4,836 148, 444 58, 088 2017 $ 11, 239 24,034 3,542 158, 121 67,088 193, 641 48, 322 39, 973 141,963 80,595 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 $34,000 additional cash in the business and withdrew $24,000 cash for personal use. Equity, December 31, 2016 Equity, December 31, 2017