Question: Prepare a 2015 balance sheet for Cornell Corp. based on the following information: cash = $135,000; patents and copyrights = $630,000; accounts payable = $214,

Prepare a 2015 balance sheet for Cornell Corp. based on the

Prepare a 2015 balance sheet for Cornell Corp. based on the following information: cash = $135,000; patents and copyrights = $630,000; accounts payable = $214, 500; accounts receivable = $110,000; tangible net fixed assets = $1, 640,000; inventory = S297.000; notes payable = S140.000; accumulated retained earnings = $1.262.000; long-term debt = $853,000. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.)

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