Question: Prepare a 2015 balance sheet for Cornell Corp. based on the following information: cash = $134,000; patents and copyrights = $670,000; accounts payable = $210,000;

Prepare a 2015 balance sheet for Cornell Corp. based on the following information: cash = $134,000; patents and copyrights = $670,000; accounts payable = $210,000; accounts receivable = $105,000; tangible net fixed assets = $1,730,000; inventory = $293,000; notes payable = $160,000; accumulated retained earnings = $1,453,000; long-term debt = $845,000.

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