Question: Problem 2-15 Preparing a Balance Sheet [LO1] Prepare a 2021 balance sheet for Willis Corporation based on the following information: Cash =$144,000; Patents and copyrights

Problem 2-15 Preparing a Balance Sheet [LO1] Prepare a 2021 balance

Problem 2-15 Preparing a Balance Sheet [LO1] Prepare a 2021 balance sheet for Willis Corporation based on the following information: Cash =$144,000; Patents and copyrights =$630,000; Accounts payable =$221,000; Accounts receivable =$110,000; Tangible net fixed assets =$1,660,000; Inventory = $301,500; Notes payable =$125,000; Accumulated retained earnings =$1,244,000; Long-term debt =$862,000. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.)

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