Exercise 17-7

Rojas Corporations comparative balance sheets are presented below.

ROJAS CORPORATION Comparative Balance Sheets December 31
		2017			2016
Cash		$15,100			$10,300
Accounts receivable		21,700			23,900
Land		20,200			26,300
Buildings		70,300			70,300
Accumulated depreciationbuildings		(14,600	)		(10,000	)
Total		$112,700			$120,800
Accounts payable		$12,700			$28,600
Common stock		74,400			73,300
Retained earnings		25,600			18,900
Total		$112,700			$120,800

Additional information:

1.		Net income was $23,000. Dividends declared and paid were $16,300.
2.		No noncash investing and financing activities occurred during 2017
3.		The land was sold for cash of $4,500.