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Presented below is the balance sheet for HHD, Incorporated, at December 31, 2024. Current assets Investments Property, plant, and equipment Intangible assets. Total assets

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Presented below is the balance sheet for HHD, Incorporated, at December 31, 2024. Current assets Investments Property, plant, and equipment Intangible assets. Total assets Current liabilities Long-term liabilities Shareholders' equity Total liabilities and shareholders' equity $ 660,000 545,000 2,420,000 230,000 $ 3,855,000 $460,000 695,000 2,700,000 $ 3,855,000 The captions shown in the summarized statement above include the following: a. Current assets: cash, $165,000; accounts receivable (net), $215,000; inventory, $240,000; and prepaid insurance, $40,000. b. Investments: investment in equity securities, short term, $105,000, and long term, $440,000. c. Property, plant, and equipment buildings, $1,650,000 less accumulated depreciation, $615,000; equipment, $650,000 less accumulated depreciation, $215,000; and land, $950,000. d. Intangible assets net of amortization: patent, $125,000; and copyright, $105,000. e. Current liabilities: accounts payable, $115,000; notes payable, short term, $165,000, and long term, $105,000; and income taxes payable, $75,000. f. Long-term liabilities: bonds payable due 2026. g. Shareholders' equity: common stock, $1,750,000: retained earnings, $950,000. Six hundred thousand shares of no par common stock are authorized, of which 350,000 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. Current assets: Total current assets Investments: Property, plant, and equipment HHD, INCORPORATED Balance Sheet At December 31, 2024 Assets Net property, plant, and equipment Intangible assets: Total intangible assets Total assets Liabilities and Shareholders' Equity Current liabilities: Liabilities and Shareholders' Equity 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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