7)

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

Long-term debt: $35,000,000

Preferred stock: 4,000,000

Common stock ($1 par value): 11,000,000

Capital surplus: 26,000,000

Accumulated retained earnings: 75,000,000

During the past year, Information Control issued 8 million shares of new stock at a total price of $29 million, and issued $6 million in new long-term debt. The company generated $7 million in net income and paid $2.5 million in dividends. Construct the current balance sheet refl ecting the changes that occurred at Information Control Corp. during the year.