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Required Information [The following information applies to the questions displayed below) The accounting records of Nette Distribution show the following assets and abilities as of December 31 for Year 1 and Year 2 December 11 Cash Accounts receivable office supplies Office equipent Trucks Butline Land Accounts payable wote payable Year $ 45,057 26,086 4,115 126,314 49,428 Year $ 8,222 20,451 3,014 134,543 58,420 164,773 41,119 34,014 105,892 68.50 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 $36,000 additional cash in the business in exchange for common stock, and the company paid a $26.400 cash dividend Equity December 31 Year Equity December 31. Year 2
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