Rojas Corporation's comparative balance sheets are presented below.

ROJAS CORPORATION

Comparative Balance Sheets

December 31

2020

2019

Cash$14,600

$10,000

Accounts receivable20,800

23,600

Land19,800

25,600

Buildings70,000

70,000

Accumulated depreciationbuildings(15,300

)

(10,900

)

Total$109,900

$118,300

Accounts payable$12,100

$27,800

Common stock74,900

71,000

Retained earnings22,900

19,500

Total$109,900

$118,300

Additional information:

1.Net income was $22,600. Dividends declared and paid were $19,200.2.No noncash investing and financing activities occurred during 2020.

3.The land was sold for cash of $4,500.