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Prepare a 2021 balance sheet for Willis Corporation based on the following information: Cash $130,000; Patents and copyrights = $630,000; Accounts payable $211,500; Accounts
Prepare a 2021 balance sheet for Willis Corporation based on the following information: Cash $130,000; Patents and copyrights = $630,000; Accounts payable $211,500; Accounts receivable $155,000; Tangible net fixed assets $1,625,000; Inventory = $294,500; Notes payable $175,000; Accumulated retained earnings $1,272,000; Long-term debt $848,000. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) Assets Cash Accounts receivable Inventory Accounts receivable Tangible net fixed assets Total assets 000 * 1 Answer is not complete. WILLIS CORPORATION Balance Sheet Liabilities and Equity $ 130,000 Accounts payable $ 211,500 155,000 Notes payable 175,000 294,500 Current liabilites S 286,500 $ 579,500 Long-term debt 848,000 Total liabilities 630,000 1,625,000 Accounts receivable 328,000 Accumulated retained earnings 1,272,000 $ 2,834 x Total liabilities & owners' equity $ 2,834
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