he adjusted trial balance of Lawrence Corporation showed the following selected account balances (all debits) at December 31, the end of the annual reporting period. Item Amount Cash $96,800 Patent, net 30,800 Accounts receivable (net of allowance) 198,000 Prepaid rent expense (current) 2,200 Marketable equity securities (current) 110,000 Franchise, net 39,600 Rent revenue receivable (current) 6,600 Goodwill 132,000 Trademark 41,800 Prepaid insurance (two-thirds is long-term) 13,200 Copyright, net 26,400 Equipment (net of accumulated depreciation) 6 60,000 Notes receivable, trade (short-term) 22,000 R&D expense 85,800 Noncompete agreement 26,400 Lawrence Corp. Balance Sheet-Selected Balances December 31 Assets Current assets \begin{tabular}{lrrr|r} \hline Cash & & 96,800 \\ \hline Accounts receivable, net & & 198,000 \\ \hline Prepaid rent expense & & 2,200 \\ \hline Marketable equity securities & & 110,000 \\ \hline Rent revenue receivable & & 6,600 \\ \hline Notes receivable, trade & & 22,000 \\ \hline Prepaid insurance & & 4,400 \\ \hline Total current assets & & 440,000 \\ \hline Property, plant, and equipment & & \\ \hline Equipment, net & & 660,000 \\ \hline Intangible assets & & \\ \hline Patent, net & & 30,800 \\ \hline Goodwill & & 132,000 \\ \hline Trademark & & 41,800 \\ \hline Copyright, net & & 26,400 \\ \hline Franchise, net & & 39,600 \\ \hline Noncompete agreement & & 26,400 \\ \hline Total intangible assets & & 297,000 \\ \hline Other assets & & \\ \hline Prepaid insurance & & 8,800 \\ \hline Total assets & \\ \hline & & 0 \\ \hline \end{tabular}.