Question: Prepare a 2021 batance sheet for Willis Corporation based on the following information Cash =$138,000, Patents and copytights =$630,000, Accounts payable =$216,500. Accounts receivable =$160,000.

Prepare a 2021 batance sheet for Willis Corporation based on the following information Cash =$138,000, Patents and copytights =$630,000, Accounts payable =$216,500. Accounts receivable =$160,000. Tangible net fixed assets =$1,645,000. Inventory = $298,500, Notes payable =$155,000. Accumulated retained earnings =$1,256,000, Long-term debt =$856,000. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.)

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