Question: Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $420,000; Patents and copyrights = $730,000; Accounts payable = $370,000;

Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $420,000; Patents and copyrights = $730,000; Accounts payable = $370,000; Accounts receivable = $149,000; Tangible net fixed assets = $3,400,000; Inventory = $245,000; Notes payable = $190,000; Accumulated retained earnings $1,265,000; Long-term debt = $1,730,000. What is the common stock account balance for the company? =

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