Exercise 17-08 (Part Level Submission) Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Net Cash Used by Operating Activities ROJAS CORPORATION Comparative Balance Sheets December 31 Cash Flows from Operating Activities Net Cash Provided by Investing Activities 2020 Net Income 22600 Sale of Land Cash Accounts receivable Adjustments to reconcile net income to Land 2019 $10,500 23,500 26,100 69,800 (10,800) $119,100 $14,600 21,100 19,900 69,800 (15,200) $110,200 Net Cash Used by Investing Activities Net Cash Provided by Operating Activities Buildings Accumulated depreciation-buildings Total Depreciation Expense 4500 Cash Flows from Financing Activities Loss on Disposal of Plant Assets Issuance of Common Stock Decrease in Accounts Receivable Accounts payable Common stock Retained earnings Total $11,900 75,100 23,200 $110,200 $28,500 71,000 19,600 $119,100 Payment of Dividends Decrease in Accounts Payable Net Cash Used by Financing Activities Additional information: Net Increase in Cash 1. Net income was $22,600. Dividends declared and paid were $19,000. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold for cash of $4,500. Cash at Beginning of Period Cash at End of Period