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Information for Patel Corporation is given below: Patel Corporation Balance Sheet December 31, 2021 Cash Accounts receivable (net) Inventories Plant and equipment, net of depreciation Patents Other intangible assets Total Assets 630,000 189,000 275,000 1,875,000 750,000 350,000 Accounts payable 1,950,000 Income taxes payable 2,439,000 Miscellaneous accrued payables Bonds payable (8%, due 2023) 1,983,000 Preferred stock ($ 100 par, 6% 261,000 cumulative nonparticipating) 75,000 Common stock (no par, 60,000 $ 7,058,000 shares authorized, issued and outstanding) Retained earnings Treasury stock 1,500 shares of preferred Total Equities 1.125.000 2,439,000 (225.000) $ 7,058,000 Patel Corporation