Exercise 17-08

Rojas Corporations comparative balance sheets are presented below.

ROJAS CORPORATION Comparative Balance Sheets December 31
		2020			2019
Cash		$14,900			$10,800
Accounts receivable		21,700			23,200
Land		20,000			26,200
Buildings		70,300			70,300
Accumulated depreciationbuildings		(15,100	)		(10,500	)
Total		$111,800			$120,000
Accounts payable		$12,700			$27,900
Common stock		74,600			73,800
Retained earnings		24,500			18,300
Total		$111,800			$120,000

Additional information:

1.		Net income was $23,100. Dividends declared and paid were $16,900.
2.		No noncash investing and financing activities occurred during 2020.
3.		The land was sold for cash of $4,600.