The following financial information is from Cook Company:
Accounts Payable $ 55,000
Land $ 90,000
Inventory $ 10,500
Accounts Receivable $ 7,500
Equipment $ 8,000
Deferred Revenue $ 58,500
Short-Term Investments $ 20,000
Notes Receivable (due in 8 months) $ 45,500
Interest Payable $ 2,000
Patents $ 75,000
What is the amount of intangible assets assuming the accounts above reflect normal activity?
A) $95,000.
B) $75,000.
C) $120,500.
D) $140,500.
Answer: B
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