The accounting records of Nettle Distribution show the
Question and Solution
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 20
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The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017. Required 1. Prepare balance sheets for the business as of December 31, 2016 and 2017. 2. Compute net income for 2017 by comparing total equity amounts for these two years and using the following information: During 2017, the owner invested $35,000 additional cash in the business and withdrew $19,000 cash for personal use. 3. Compute the 2017 year-end debt ratio (in percent and rounded to one decimal).
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