Question
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
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.
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