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Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $230,000;...

Prepare a 2016 balance sheet for McSort Inc. based on the following information: Cash = $230,000; Patents and copyrights = $650,000; Accounts payable = $350,000; Accounts receivable = $169,000; Tangible net fixed assets = $4,500,000; Inventory = $185,000; Notes payable = $190,000; Accumulated retained earnings = $1,345,000; Long-term debt = $1,830,000. What is the common stock account balance for the company?

Multiple Choice

  • $2,381,000

  • $2,256,000

  • $2,399,000

  • $2,019,000

  • $1,782,000

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