The following balance sheet for the Hubbard Corporation was prepared by the company: HUBBARD CORPORATION Balance Sheet At December 31, 2024 Assets Buildings Land Cash Accounts receivable (net) Inventory Machinery Patent (net) Investment in equity securities Total assets Accounts payable Liabilities and Shareholders' Equity Accumulated depreciation Notes payable Appreciation of inventory Common stock (authorized and issued 100,000 shares of no par stock) Retained earnings Total liabilities and shareholders' equity $ 750,000 250,000 60,000 120,000 240,000 280,000 100,000 60,000 $ 1,860,000 $ 215,000 255,000 500,000 80,000 430,000 380,000 $ 1,860,000