The following table presents the long-term liabilities and stockholders equity of Information Control Corp. one year ago:

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The following table presents the long-term liabilities and stockholders’ equity of Information Control Corp. one year ago:

Long-term debt................................$29,600,000
Preferred stock....................................1,680,000
Common stock ($1 par value)...........7,120,000
Capital surplus...................................32,800,000
Accumulated retained earnings.......60,200,000

During the past year, the company issued 3.2 million shares of new stock at a total price of $20.8 million, and issued $7.6 million in new long-term debt. The company generated $12.24 million in net income and paid $2.48 million in dividends. Construct the current balance sheet reflecting the changes that occurred on the company’s balance sheet during the year.

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Corporate Finance Core Principles And Applications

ISBN: 9781260571127

6th Edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan

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