2 The following balance sheet for the Hubbard Corporation was prepared by the company BAR CORPORATION Balance Sheet At December 31, 2824 Assets Cash Accounts receivable (set) Inventory 154,000 M Hachinery Patent (t Total ass Liabilities and shareholders' Equity $233,000 Accumulated depletion Notes payable Appreciation of inventory 536, 55,00 Common stack (authorized and loved 118,000 shares at per stack) Retained earnings 252FX252in Additional information: 1 The buddings, land, and machinery are ail stated at cost except for a parcel of land that the company is holding for future sale The land originally cost $68,000 but, due to a significant increase in maket value, is sted at $56,000 The increase it the land account was credited to retained earnings 2. The investment in equity securities account consists of shoces of other corporations and are recorded at coet $38,000 ut which will be sold in the coming year. The remainder will be held indefinately 3. Notes payable are all long term. However, a $200,000 note requares an installment piyment of $70.000 due in the cung year 4. Inventory is recorded at current resale value. The original cast of the inventory is $178.000 Required Prepare a comected classified balance sheet for the Hitbart Corporation at December 21, 2024 0