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Prepare a balance sheet for Alaskan Peach Corp. as of December 31, 2019, based on the following information: cash = $206,000; patents and copyrights =
Prepare a balance sheet for Alaskan Peach Corp. as of December 31, 2019, based on the following information: cash = $206,000; patents and copyrights = $860,000; accounts payable = $283,000; accounts receivable = $266,000; tangible net fixed assets = $5,230,000; inventory = $551,000; notes payable = $176,000; accumulated retained earnings = $4,716,000; long-term debt = $1,120,000. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Balance Sheet Assets Cash Accounts receivable Inventory $ 206,000 266,000 551,000 $ Current assets Tangible net fixed assets Intangible net fixed assets 1,023,000 5,230,000 860,000 Total assets $ 7,113,000 Liabilities $ Accounts payable Notes payable 283,000 176,000 $ 459,000 1,120,000 Current liabilities Long-term debt Total liabilities Common stock 818,000 Total liabilities & owners' equity $ 7,113,000
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