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Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $230,000; Patents and copyrights = $760,000; Accounts payable = $500,000;
Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $230,000; Patents and copyrights = $760,000; Accounts payable = $500,000; Accounts receivable = $149,000; Tangible net fixed assets = $4,100,000; Inventory = $345,000; Notes payable = $180,000; Accumulated retained earnings = $1,215,000; Long-term debt $1,430,000. What is the common stock account balance for the company? Multiple Choice O $2,619,000 $2,470,000 0 $2,961,000 $2,259,000 O $2,048,000
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