Financial statements for Sunland Company are given below:

Sunland Company
Balance Sheet
January 1, 2018
Assets				Equities
Cash		$ 961000		Accounts payable		$ 457000
Accounts receivable		860000
Buildings and equipment		3600000
Accumulated depreciation buildings and equipment		(1110000	)	Common stock		2720000
Patents		430000		Retained earnings		1564000
		$4741000				$4741000

Sunland Company
Statement of Cash Flows
For the Year Ended December 31, 2018
Increase (Decrease) in Cash
.
Cash flows from operating activities
	Net income						$1160000
	Adjustments to reconcile net income to net cash provided by operating activities:
		Increase in accounts receivable		$(383000	)
		Increase in accounts payable		195000
		Depreciationbuildings and equipment		356000
		Gain on sale of equipment		(144000	)
		Amortization of patents		48000			72000
Net cash provided by operating activities							1232000
.
Cash flows from investing activities
	Sale of equipment			291000
	Purchase of land			(600000	)
	Purchase of buildings and equipment			(1156000	)
Net cash used by investing activities							(1465000)
.
Cash flows from financing activities
	Payment of cash dividend			(359000	)
	Sale of common stock			963000
Net cash provided by financing activities							604000
Net increase in cash							371000
Cash, January 1, 2018							961000
Cash, December 31, 2018							$1332000

Total assets on the balance sheet at December 31, 2018 are $6649000. Accumulated depreciation on the equipment sold was $330000. The balance in the Retained Earnings account at December 31, 2018 was