Question: Prepare a 2015 balance sheet for Cornell Corp based on the following Information: cash = $137,000: patents and copyrights = $630,000; accounts payable $216,000: accounts
Prepare a 2015 balance sheet for Cornell Corp based on the following Information: cash = $137,000: patents and copyrights = $630,000; accounts payable $216,000: accounts receivable = $130,000; tangible net fixed assets = $1, 645,000: inventory = $298,000: notes payable = $150,000: accumulated retained earnings = $1, 258,000; long-term debt = $855,000. (Be sure to list the accounts in order of their liquidity. Do not round Intermediate calculations.)
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