Exercise 12-8 (Part Level Submission) Cheyenne Corp.'s comparative balance sheets are presented below. Cheyenne Corp. Comparative Balance Sheets December 31 2019 2018 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $ 10,300 23,800 26,400 70,100 (10,300) $112,200 $120,300 $ 15,100 21,500 20,500 70,100 (15,000) Total Accounts payable Common stock Retained earning:s $ 28,400 73,100 18,800 $112,200 $120,300 $ 12,500 75,800 23,900 Total Additional information: 1. Net income was $22,200. Dividends declared and paid were $17,100. 2. No noncash investing and financing activities occurred during 2019. 3. The land was sold for cash of $4,800