Page < > The comparative balance sheet of Cromme Inc. for December 31, 2019 and 2018, is shown as follows: Cash Accounts receivable (net) Inventories Investments Land Assets Equipment Accumulated depreciation-equipment Dec. 31, 2019 Dec. 31, 2018 $625,760.00 $585,920.00 227,840.00 208,960.00 641,760.00 617,120.00 0.00 328,000.00 240,000.00 0.00 705,120.00 553,120.00 (166,400.00) (148,000.00) $2,362,080.0 $2,057,120.0 Total assets 0 0 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $424,480.00 $404,960.00 Accrued expenses payable (operating expenses) 42,240.00 52,640.00 Dividends payable 24,000.00 19,200.00 Common stock, $4 par 150,000.00 100,000.00 Paid-in capital: Excess of issue price over par-common 417,500.00 280,000.00 stock Retained earnings 1,303,860.00 1,200,320.00) $2,362,080.0 $2,057,120.0 Total liabilities and stockholders' equity 0 0 Additional data obtained from an examination of the accounts in the ledger for 2019 are as follows: A. The investments were sold for $280,000 cash. B. Equipment and land were acquired for cash. C. There were no disposals of equipment during the year. D. The common stock was issued for cash. E. There was a $199,540 credit to Retained Earnings for net income. F. There was a $96,000 debit to Retained Earnings for cash dividends declared.