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Presented below is the balance sheet for HHD, Inc., at December 31, 2021. Current assets Investments Property, plant, and equipment Intangible assets Total assets Current
Presented below is the balance sheet for HHD, Inc., at December 31, 2021. Current assets Investments Property, plant, and equipment Intangible assets Total assets Current liabilities Long-term liabilities Shareholders' equity Total liabilities and shareholders' equity $ 616,800 512,000 2,112,000 208,000 $3,448,000 $ 416,000 992,000 2,040,000 $3,448,000 The captions shown in the summarized statement above include the following: a. Current assets: cash, $154,000; accounts receivable (net). $204,000; Inventory, $229,000; and prepaid insurance, $29,000 b. Investments: Investment in equity securities, short term $94.000, and long term $164,000; and restricted cash, long term $254,000 c. Property, plant, and equipment buildings. $1,540,000 less accumulated depreciation, $604,000; equipment, $540,000 less accumulated depreciation, $204,000; and land, $840,000, d. Intangible assets net of amortization patent $114,000; and copyright. $94,000. e Current liabilities: accounts payable, $104,000, notes payable short term, $154,000, and long term, $94.000 and income taxes payable, $64,000. 1. Long-term liabilities: bonds payable due 2023 9. Shareholders' equity: common stock. $1,200,000; retained earnings. $840,000, Four hundred thousand shares of no par com stock are authorized, of which 240,000 shares were issued and are outstanding common Required: Prepare a corrected classified balance sheet for HHD, Inc., at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) HHD, INC Balance Sheet At December 31, 2021 Assets Current assets: Total current assets Investments: Total investments Property, plant, and equipment: Net property, plant, and equipment: Intangible assets: Total intangible assets Total assets Total intangible assets Total assets Liabilities and Shareholders' Equity Current liabilities: Total current liabilities Long-term liabilities: Total long-term liabilities Total liabilities Shareholders' equity: Total shareholders' equity Total liabilities and shareholders' equity
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