Question 1 Rojas Corporation's comparative balance sheets are presented below ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $14,600 $10,200 20,700 20,100 69,500 23,100 25,700 69,500 (15,000) (10,900) Total $109,900 $117,600 Accounts payable Common stock Retained earnings $27,600 71,100 18,900 109,900 $117,600 $12,800 74,200 22,900 Total Additional information: 1. Net income was $22,600. Dividends declared and paid were $18,600 2. No noncash investing and financing activities occurred during 2017 3. The land was sold for cash of $4,700