Reference no: EM132420606
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019.
December 31 2018 2019
Cash $52,881 $9,951
Accounts receivable 28,705 22,505
Office supplies 4,528 3,316
Office equipment 138,995 148,056
Trucks 54,391 63,391
Building 0 181,316
Land 0 45,245
Accounts payable 75,465 37,429
Note payable 0 126,561
Compute net income for 2019 by comparing total equity amounts for these two years and using the following information: During 2019, the owner invested $35,000 additional cash in the business (in exchange for common stock) and the company paid a $38,400 cash dividend.
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