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, 2018 and 2019. December 31 Cash Accounts receivable office supplies office equipment Trucks Building Land Accounts payable Note payable 2018 $ 49,760 27,010 4,261 130,790 51,179 0 0 71,010 0 2019 $ 8,832 21,176 3,121 139,316 60,179 170, 612 42,575 35,219 113, 187 Required: 1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities. NETTLE DISTRIBUTION Balance Sheet December 31, 2018 Liabilities Assets Equity Total equity O Total liabilities and equity Total assets NETTLE DISTRIBUTION Balance Sheet December 31, 2019 Liabilities Assets Total liabilities Equity Total equity 0 Total liabilities and equity Total assets