Question: Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $250,000; Patents and copyrights = $640,000; Accounts payable = $390,000;

Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $250,000; Patents and copyrights = $640,000; Accounts payable = $390,000; Accounts receivable = $129,000; Tangible net fixed assets = $3,000,000; Inventory = $215,000; Notes payable = $180,000; Accumulated retained earnings = $1,325,000; Long-term debt = $1,430,000. What is the common stock account balance for the company?

multiple choice

$1,109,000
$709,000
$909,000
$1,269,000
$1,431,000

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