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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

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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 liabilities Long-term liabilities Shareholders' equity Total liabilities and shareholders' equity $ 680,000 560,000 2,560,000 240,000 $4,040,000 $ 480,000 560,000 3,000,000 $4,040,000 nces The captions shown in the summarized statement above include the following: a. Current assets: cash, $170,000; accounts receivable (net). $220,000; inventory, $245,000; and prepaid insurance, $45,000. b. Investments: investment in equity Securities, short term $110,000, and long term $180,000; and restricted cash, long term, $270,000 c. Property, plant, and equipment buildings, $1,700,000 less accumulated depreciation, $620,000; equipmint, $700,000 less accumulated depreciation, $220,000; and land, $1,000,000. d. Intangible assets net of amortization: patent, $130,000; and copyright, $110,000 e. Current liabilities: accounts payable, $120,000; notes payable, short term, $170,000, and long term, $110,000; and income taxes payable, $80,000 f. Long-term liabilities: bonds payable due 2023. g. Shareholders' equity: common stock, $2,000,000; retained earnings, $1,000,000. Five hundred thousand shares of no par common stock are authorized, of which 400,000 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 minus sign.) HHD, INC. Balance Sheet At December 31, 2021 Assets Current assets 0 Total current assets Investments Investments Total investments $ 0 Property, plant, and equipment: 0 0 Net property, plant, and equipment: Intangible assets 0 $ Total intangible assets Total assets Liabilities and Shareholders' Equity Current liabilities: 0

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