Question: You are preparing a 2015 balance sheet for Cornell Corp. based on the following information: cash = $148,927; patents and copyrights = $647,714; accounts payable

You are preparing a 2015 balance sheet for Cornell Corp. based on the following information: cash = $148,927; patents and copyrights = $647,714; accounts payable = $205,368; accounts receivable = $121,641; tangible net fixed assets = $1.9 million; inventory = $309,340; notes payable = $129,597; accumulated retained earnings = $1.1 million; long-term debt = $789,751. What must be the amount of Common Stock on this balance sheet?

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