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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.

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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, $155,000; accounts receivable (net), $205,000; inventory, $230,000; and prepaid insurance, $30,000. b. Investments: investment in equity securities, short term, $95,000, and long term, $420,000. c. Property, plant, and equipment: buildings, $1,550.000 less accumulated depreciation, $605,000; equipment, $550,000 less accumulated depreciation, $205,000; and land, $850,000. d. Intangible assets net of amortization: patent, $115,000; and copyright, $95,000. e. Current liabilities: accounts payable, \$105,000; notes payable, short term, \$155,000, and long term, \$95,000; and income taxes payable, $65,000. f. Long-term liabilities: bonds payable due 2026 . g. Shareholders' equity: common stock, $1,250,000; retained earnings, $850,000. Five hundred thousand shares of no par common stock are authorized, of which 250,000 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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