associated with drug development efforts and the intense competition in the genomics industry. The Compan part, upon successfully raising additional capital, prospective product development efforts, the acceptance of th products by the marketplace, and approval of the Company's proposed products by various U.S. and foreign go Note 6 Property and Equipment The major classes of property and equipment consist of the following at December 31: $ Furniture and fixtures Computers and office equipment Lab equipment 2014 22,603 $ 100,105 661,789 784,497 (483,232) 301,265 $ 2013 21,036 58,741 497,328 577,105 (346,134) 230,971 Less accumulated depreciation Property and equipment, net $ 4. Assume that the Company purchased its additional Property and Equipment with cash. Write the journal entry that the Company would have used to record the purchase of Property and Equipment in 2014