Problem $2-15$ Preparing a Balance Sheet $[$LO$1]$

Prepare a $2024$ balance sheet for Willis Corporation based on the following information: Cash $=$$$132,000$; Patents and copyrights $=$ $$630,000$; Accounts payable $=$$$212,500$; Accounts receivable $=$$$102,500$; Tangible net fixed assets $=$$$1,630,000$; Inventory $=$ $$295,500$; Notes payable $=$$$185,000$; Accumulated retained earnings $=$$$1,268,000$; Long$-$term debt $=$$$850,000.$

Note: Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.

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