PROBLEM CCC: HIGHTOWER CORPORATION (40 points) Presented below is the trial balance of Hightower Corporation at December 31, 2020, Debit 295,000 Credit $10,000,000 230,000 5,050,000 448,000 416,000 135,000 682,000 2,856,000 95,000 390,000 1,560,000 204,000 652,000 Cash Sales Revenue Debt Investments (trading) (at cost, $218,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain on Sale of Equipment Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par Totals 228,000 38,000 1,350,000 317,000 895,000 120,000 1,350,000 900,000 1,500,000 90,000 240,000 1,500,000 287,000 293,000 117,000 120,000 $16.179.000 $16.179.000 ng sections of the classified balance sheet: ets (include appropriate financial statement header) Instructions Prepare the following sections of a. Current assets (include a b. Long-term debt c. Stockholder s equity (assume net income ssume net income for the year is $650,000) C. Si me for the year. (Must show work to get credit.) Bonus: Calculate net income for the