Question: = Prepare a 2021 balance sheet for Willis Corporation based on the following information: Cash $142,000; Patents and copyrights = $630,000; Accounts payable =

= Prepare a 2021 balance sheet for Willis Corporation based on the

= Prepare a 2021 balance sheet for Willis Corporation based on the following information: Cash $142,000; Patents and copyrights = $630,000; Accounts payable = $219,500; Accounts receivable = $162,500; Tangible net fixed assets $1,655,000; Inventory $300,500; Notes payable = $115,000; Accumulated retained earnings $1,248,000; Long-term debt $860,000. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) = = Assets Cash Accounts receivable Total assets WILLIS CORPORATION Balance Sheet Liabilities and Equity Current liabilites Total liabilities Total liabilities & owners' equity

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