Question: Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $380,000; Patents and copyrights = $780,000; Accounts payable = $520,000;

Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $380,000; Patents and copyrights = $780,000; Accounts payable = $520,000; Accounts receivable = $129,000; Tangible net fixed assets = $4,300,000; Inventory = $355,000; Notes payable = $180,000; Accumulated retained earnings = $1,305,000; Long-term debt = $1,730,000. What is the common stock account balance for the company?

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