Prepare a 2010 balance sheet for Jarrow Corp. based on the following i

QUESTION

Prepare a 2010 balance sheet for Jarrow Corp. based on the following
information: cash = $280,000; patents and copyrights = $1,260,000;
accounts payable = $700,000; accounts receivable = $210,000; tangible
net fixed assets = $4,830,000; inventory = $420,000; notes payable =
$280,000; accumulated retained earnings = $2,100,000; long-term debt =
$2,380,000.
Assets Current Assets Cash $ 280,000.00 Accounts Receivables $ 210,000.00 Inventory $ 420,000.00 Total Current Assets $ 910,000.00 Tangible net Fixed Assets $ 4,830,000.00 Intangible assets Patents and copyrights $ 1,260,000.00 Total Assets $ 7,000,000.00 Liabilities Current Liabilities Accounts Payable $ 700,000.00 Notes Payable $ 280,000.00 Total¦

rrent Liabilities $ 980,000.00 Long Term Debt $ 2,380,000.00 Total liabilities $ 3,360,000.00 Shareholders equity Shareholders equity $ 560,000.00 Accumulated Retained Earnings $ 2,100,000.00 Total liabilities and equity $ 7,000,000.00

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