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Required information Problem 2-5A Computing net income from equity analysis, preparing a balance sheet, and computing the debProblem 2-5A Part 2 2. Compute net income for 2019 by comparing total equity amounts for these two years and using the follow

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Equity, December 31, 2018 $209,510
Additional investment by issuance of common stock 37,000
Add: Net Income for 2019 109710
Less: Dividends (40800)
Equity, December 31, 2019 315420
Balance sheet as on December 31, 2018
Particulars Amount
Assets
Cash 54300
Accounts Receivable 29475
Office supplies 4649
Trucks 55851
Office equipment 142725
Total Assets 287000
Liabilities
Accounts payable 77490
Equity
Total Equity 209510
Total liabilities and equity 287000
Balance sheet as on December 31, 2019
Particulars Amount ($)
Assets
Cash 10460
Accounts Receivable 23108
Office supplies 3405
Trucks 64851
Office equipment 152029
Buildings 186181
Land 46460
Total Assets 486494
Liabilities
Accounts payable 38433
Note Payable 132641
Total Liabilities 171074
owners Equity
Nettle capital 315420
Total liabilities and equity 486494
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