Exercise 17-7 Rojas s comparative balance sheets are presented below 31 2017 2016 $14,600 $10,000 Accounts receivable Land 20,800 19,800 70,000 (15,300) 23,600 25,600 70,000 (10,900) Accumulated buildings Total $109,900 $118,300 Accounts payable Common stock $12,100 74,900 22,900 $27,800 71,000 $109,900$118,300 Total 1. Net income was $22,600. Dividends declared and paid were $19,200 2. No noncash investing and financing activities occurred during 2017 3. The land was sold for cash of $4,500. f9 so 7 8 9