Presented below is the balance sheet for HHD, Inc., at December 31, 2016. Current assets $ 676,000 Current liabilities $ 476,000 Investments 557,000 Long-term liabilities 587,000 Property, plant, and equipment 2,532,000 Shareholders' equity 2,940,000 Intangible assets 238,000 Total assets $ 4,003,000 Total liabilities and shareholders' equity $ 4,003,000 The captions shown in the summarized statement above include the following:a. Current assets: cash, $169,000; accounts receivable, $219,000; inventories, $244,000; and prepaid insurance, $44,000.b. Investments: investments in common stock, short term, $109,000, and long term, $179,000; and restricted cash, long term, $269,000.c. Property, plant, and equipment: buildings, $1,690,000 less accumulated depreciation, $619,000; equipment, $690,000 less accumulated depreciation, $219,000; and land, $990,000.d. Intangible assets: patent, $129,000; and copyright, $109,000.e. Current liabilities: accounts payable, $119,000; notes payable, short term, $169,000, and long term, $109,000; and taxes payable, $79,000.f. Long-term liabilities: bonds payable due 2021.g. Shareholders’ equity: common stock, $1,950,000; retained earnings, $990,000. Five hundred thousand shares of no par common stock are authorized, of which 390,000 shares were issued and are outstanding.Required:Prepare a corrected classified balance sheet for HHD, Inc., at December 31, 2016. (Amounts to be deducted should be indicated by a minus sign.)