Question 12 of 18
Comparative Balance Sheets
December 31
2025 2024
Cash $15,300 $11,300
Accounts receivable 21,000 23,500
Land 21,500 27,600
Buildings 71,000 71,000
Accumulated depreciation-buildings (16,000) (10,200)
Total $112,800 $123,200
Accounts payable $12,500 $31,400
Common stock 75,000 70,000
Retained earnings 25,300 21,800
Total $112,800 $123,200
Additional information:
1. Net income was $22,700. Dividends declared and paid were $19,200.
2. No noncash investing and financing activities occurred during 2025.
3. The land was sold for cash of $4,200.