The following balance sheet for the Hubbard Corporation was prepared by the company:

5 Question 3 - Wk 3 - Apply: Home X + theducation.com y: Homework [due day 7] @ Saved The following balance sheet for the Hubbard Corporation was prepared by the company. HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings S 757, 000 Land 271, 000 Cash 67, 090 Accounts receivable (net) 134, 090 Inventory 254, 000 Machinery 287, 090 Patent (net) 107, 080 Investment in equity securities 74, 000 Total assets $1, 951, 900 Liabilities and Shareholders' Equity Accounts payable 222, 090 Accumulated depreciation 262,000 Notes payable 514,000 Appreciation of inventory 87, 000 Common stock (authorized and issued 107, 600 shares of no par stock) 428, 090 Retained earnings 438, 900 Total liabilities and shareholders' equity $1, 951, 000 Additional information: 1 The huildings land and machinery are all stated at east event for a narrel of land that the