Question: Preparing a Balance Sheet: Prepare a 2019 balance sheet for Dunlop Corp. based on the following information: Cash = $125,000; Patents and copyrights = $680,000;

Preparing a Balance Sheet: Prepare a 2019 balance sheet for Dunlop Corp. based on the following information: Cash = $125,000; Patents and copyrights = $680,000; Accounts payable = $210,000; Accounts receivable = $115,000; Tangible net fixed assets = $1,800,000; Inventory = $286,000; Notes payable = $155,000; Accumulated retained earnings = $1,400,000; Long-term debt = $800,000.

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