Question: Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $230,000; Patents and copyrights = $730,000; Accounts payable = $400,000;

Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $230,000; Patents and copyrights = $730,000; Accounts payable = $400,000; Accounts receivable = $169,000; Tangible net fixed assets = $4,100,000; Inventory = $325,000; Notes payable = $180,000; Accumulated retained earnings = $1,175,000; Long-term debt = $1,730,000. What is the common stock account balance for the company?

Multiple Choice

$1,838,000
$2,429,000
$2,300,000
$2,531,000
$2,069,000

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