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Presented below is the balance sheet for HHD , Incorporated, at December 3 1 , 2 0 2 4 . The captions shown in the

Presented below is the balance sheet for HHD, Incorporated, at December 31,2024.
The captions shown in the summarized statement above include the following:
a. Current assets: cash, $160,000; accounts receivable (net), $210,000; inventory, $235,000; and prepaid insurance, $35,000.
b. Investments: investment in equity securities, short term, $100,000, and long term, $430,000.
c. Property, plant, and equipment: buildings, $1,600,000 less accumulated depreciation, $610,000; equipment, $600,000 less
accumulated depreciation, $210,000; and land, $900,000.
d. Intangible assets net of amortization: patent, $120,000; and copyright, $100,000.
e. Current liabilities: accounts payable, $110,000; notes payable, short term, $160,000, and long term, $100,000; and income taxes
payable, $70,000.
f. Long-term liabilities: bonds payable due 2026.
g. Shareholders' equity: common stock, $1,500,000; retained earnings, $900,000. Six hundred thousand shares of no par common
stock are authorized, of which 300,000 shares were issued and are outstanding.
Required:
Prepare a corrected classified balance sheet for HHD, Incorporated, at December 31,2024.
Note: Amounts to be deducted should be indicated by a minus sign.
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