Exercise 17-08 (Part Level Submission)

Rojas Corporations comparative balance sheets are presented below.

ROJAS CORPORATION Comparative Balance Sheets December 31
		2020			2019
Cash		$14,500			$10,400
Accounts receivable		21,300			23,900
Land		20,300			25,700
Buildings		69,800			69,800
Accumulated depreciationbuildings		(15,000	)		(10,200	)
Total		$110,900			$119,600
Accounts payable		$12,500			$28,300
Common stock		75,400			71,500
Retained earnings		23,000			19,800
Total		$110,900			$119,600

Additional information:

1.		Net income was $22,300. Dividends declared and paid were $19,100.
2.		No noncash investing and financing activities occurred during 2020.
3.		The land was sold for cash of $4,600.