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 E $110,000; Tangible net fixed assets = $1,660,000; Inventory $301,500, Notes payable $125,000; Accumulated retained earnings E $1,244,000; Long-term debt = $862,000. (Be sure to list the accounts in order of their liquidity. Do not round Intermediate calculations.) - Assets Accounts receivable Inventory Intangible net fixed assets Tangible net fixed assets Total assets - LA $ - WILLIS CORPORATION Balance Sheet 144,000 110,000 301,500 555,500 630,000 1,660,000 2,845,500 Liabilities and Equity Accounts payable Notes payable Current liabilites Long-term debt = Total liabilities Common stock Accumulated retained earnings Total liabilities & owners' equity A 221,000 125,000 346,000 862.000 1,208,000 346,000 1,244,000 2,845,500

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 recelvable =$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.)