The following balance sheet for the Hubbard Corporation was prepared by the company: Addruonal information 1 The buildings, isnd and machinery are all stated at cost oxcept for o percel of land that the company is holding for future sale and is not being used in the operations of the business. The land onginally cost $62000 but. due to a signicantincrease in 2 The invertment in equity securties account consists of stocks of other corporatons and are recorded at cost, $32.000 of which Wil be sold in the coming year, The remainder will be held indefinitely. 3. Notes payable are all long term. Howevec, a $220,000 note requires an instalment payment of $55,000 due in the coming year 4. Imvertory ts recorded at curont ressite value. The original cost of the inventory is $172.000. Required: Prepare acorrectod classfied balence sheet for the Hubbarc Corporation at December 34,2024. Note: Amounts to be deducted should be indicated by a minus sign. Required: Prepare a corrected classified balance sheet for the Hubbard Corporation at December 31, 2024. Note: Amounts to be deducted should be indicated by a minus sign