Question: Prepare a 2018 balance sheet for Rogers Corp. based on the following information: Cash = $146,000; Patents and copyrights = $630,000; Accounts payable = $222,500;

 Prepare a 2018 balance sheet for Rogers Corp. based on the

Prepare a 2018 balance sheet for Rogers Corp. based on the following information: Cash = $146,000; Patents and copyrights = $630,000; Accounts payable = $222,500; Accounts receivable = $165,000; Tangible net fixed assets = $1,665,000; Inventory $302,500; Notes payable = $135,000; Accumulated retained earnings = $1,240,000; Long-term debt = $864,000. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) Assets $ Cash Accounts receivable Inventory 2,225 1,350 X 3,575 X ROGERS CORP. Balance Sheet Liabilities and Equity 146,000 Accounts payable $ 165,000 Notes payable 302,500 Current liabilites $ 613,500 Long-term debt $ Total liabilities $ 1,665,000 630,000 Common stock Accumulated retained earnings $ 864,000 1,221,500 $ Tangible net fixed assets Intangible net fixed assets 447,000 1,240,000 Total assets $ 2,098,500 X Total liabilities & owners' equity $ 2,908,500

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