Exercise 13-7 Rojas Corporation's comparative balance sheets are presented below ROJAS CORPORATION Comparative Balance Sheets December 31 2017 $14,200 21,700 20,200 69,800 (15,200 $110,700 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $10,500 23,500 26,500 69,800 ) (11,000) Total $119,300 Accounts payable Common stock Retained earnings $11,800 75,200 23,700 $110,700 $28,600 71,200 19,500 $119,300 Total Additional information: 1. Net income was $22,200. Dividends declared and paid were $18,000 2. No noncash investing and financing activities occurred during 2017 3. The land was sold for cash of $4,700