Required information Problem 2-5A (Static) 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. Problem 2-5A (Static) Part 3 Required information Problem 2-5A (Static) 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. Problem 2-5A (Static) Part 1 Required: 1. Prepare baiance sheets for the business as of December 31 for Year 1 and for Year 2. Hint Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities