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2.2 EquiBank's long-term debt and stockholders' equity for December 31, 1999 is shown in the following list. The bank had 1 million shares outstanding, million

2.2 EquiBank's long-term debt and stockholders' equity for December 31, 1999 is shown in the following list. The bank had 1 million shares outstanding,

million

Long-term debt $ 5

Preferred stock 20

Common stock (par $1) 1

Surplus 12

Accumulated retained earnings 32

During the year 2000, EquiBank issued 200,000 additional new common shares at a price of $50 per share. The bank generated $8 million of net income and paid $5 million in dividends. It repaid $1 million of the principal on long-term debt. Prepare the same accounts as of December 31, 2000 to reflect these changes during the year.

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