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The adjusted trial balance of Lawrence Corporation showed the following selected account balances (all debits) at December 31, 2020, the end of the annual reporting period.

Cash	$35,200	Trademark	$15,200
Patent, net	11,200	Prepaid insurance (two-thirds is long-term)	4,800
Accounts receivable (net of allowance)	72,000	Copyright, net	9,600
Prepaid rent expense (current)	800	Equipment (net of accumulated depreciation)	240,000
Marketable equity securities (current)	40,000	Notes receivable, trade (short-term)	8,000
Franchise, net	14,400	R&D expense	31,200
Rent revenue receivable (current)	2,400	Noncompete agreement	9,600
Goodwill	48,000

Required

Prepare the asset section of Lawrences balance sheet at December 31, 2020. Include the proper balance sheet classifications with separate captions for current assets; property, plant, and equipment; intangible assets; and other assets. Assume that all required amortization entries have been made.

Note: List all accounts within each balance sheet category in alphabetical order.

Lawrence Corp. Balance SheetSelected Balances December 31, 2020
Assets
Current Assets
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Property, plant, and equipment
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Intangible assets
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Other assets
Accounts receivable, netCashCopyright, netEquipment, netFranchise, netGoodwillMarketable equity securitiesNoncompete agreementNotes receivable, tradePatent, netPrepaid insurancePrepaid rent expenseR&D expenseRent revenue receivableTrademark
Total Assets

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