Current Attempt in Progress Partial financial statements for 2023 and 2024 for Flounder Company are given below: Balance Sheet December 31, 2023 Assets Liabilities & Equity Cash $1776000 Accounts payable $843600 Accounts receivable 1598400 Buildings and equipment 6660000 Accumulated depreciation- buildings and equipment (2220000) Common stock 5106000 Patents 799200 Retained earnings 2664000 $8613600 $8613600 Statement of Cash Flows For the Year Ended December 31, 2024 Increase (Decrease) in Cash Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Increase in accounts receivable Increase in accounts payable Depreciation-buildings and equipment Gain on sale of equipment Amortization of patents Net cash provided by operating activities Cash flows from investing activities $2220000 $(710400) 355200 666000 (266400) 88800 133200 2353200 Sale of equipment 532800 Purchase of land (1110000) Purchase of buildings and equipment Net cash used by investing activities (2131200) (2708400) Cash flows from financing activities Payment of cash dividend (666000) Sale of common stock 1776000 Net cash provided by financing activities 1110000 Net increase in cash 754800 Cash, January 1, 2024 1776000 Cash, December 31, 2024 $2530800 Total assets on the balance sheet at December 31, 2024 are $12298800. Accumulated depreciation on the equipment sold was $621600 The balance in the Retained Earnings account at December 31, 2024 was $1998000. O $5550000 O $4884000. O $4218000