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Exercise: Part Level Submission
Rojas Corporation's comparative balance sheets are presented below.
ROJAS CORPORATION Comparative Balance Sheets December 31
2017
2016
Cash
$14,900
$10,800
Accounts receivable
21,700
23,200
Land
20,000
26,200
Buildings
70,300
Accumulated depreciation-buildings
(15,100)
(10,500)
Total
$111,800
$120,000
Accounts payable
$12,700
$27,900
Common stock
74,600
73,800
Retained earnings
24,500
18,300
Additional information:
1. Net income was $23,100. Dividends declared and paid were $16,900.2. No noncash investing and financing activities occurred during 20173. The land was sold for cash of $4,600.
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