2 The Balance Sheet summarizes information about __________.he following table summarizes information about some assets of a firm. How much is the total long-term assets? Asset Expected Life Balance Sheet Value, in USD Cash - $50,000 Accounts Receivable 6 months $100,000 Accounts Receivable 13 months $200,000 Machinery 18 months $50,000 Building 20 years $100,000 Inventory 10 months $50,000 Prepaid Expenses 3 months $50,000 Notes Receivable 15 months $200,000 Equipment 24 months $100,000