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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
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 $ 632,000 524,000 2,224,000 216,000 $3,596,000 $ 432,000 884,000 2,280,000 $3,596,000 The captions shown in the summarized statement above include the following: a. Current assets: cash, $158,000; accounts receivable (net). $208,000, inventory, $233,000; and prepaid insurance, $33,000 b. Investments: investment in equity securities, short term, $98,000, and long term, $168,000, and restricted cash, long term. $258,000. c. Property, plant, and equipment buildings, $1,580,000 less accumulated depreciation, $608,000, equipment, $580,000 less accumulated depreciation, $208,000, and land, $880,000. d. Intangible assets net of amortization patent, $118,000, and copyright, $98,000. e. Current liabilities accounts payable, $108,000, notes payable, short term, $158,000, and long term, $98,000; and income taxes payable, $68,000. f. Long-term liabilities: bonds payable due 2023. g. Shareholders' equity common stock, $1.400,000, retained earnings, $880,000. Six hundred thousand shares of no par common stock are authorized, of which 280,000 shares were issued and are outstanding Required: Prepare a corrected classified balance sheet for HHD, Inc., at December 31, 2021. (Amounts to be deducted should be indicated by a
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