Prepare a classified balance sheet Show all work

The following balance sheet for the Hubbard Corporation was prepared by the company:

Additional information:

The bulldings, land, and machinery are all stated at cost except for a parcel of land that the company is holding for future sale

and is not being used in the operations of the business. The land originally cost $$63,000$ but, due to a significant increase in

market value, is listed at $$146,000.$ The increase in the land account was credited to retained earnings.

The investment in equity securities account consists of stocks of other corporations and are recorded at cost$,$ $$33,000$ of which

will be sold in the coming year. The remainder will be held indefinitely.

Notes payable are all long term. However, a $$230,000$ note requires an installment payment of $$57,500$ due in the coming year.

Inventory is recorded at current resale value. The original cost of the inventory is $$173,000.$

Required:

Prepare a corrected classifled balance sheet for the Hubbard Corporation at December $31,2024.$