Building a Balance Sheet The following table presents the long-term liabilities and

stockholders equity of Information Control Corp. one year ago:

Long-term debt $ 55,000,000

Preferred stock 3,100,000

Common stock ($1 par value) 12,000,000

Accumulated retained earnings 119,000,000

Capital surplus 56,000,000

During the past year, the company issued 5 million shares of new stock at a total price

of $63 million, and issued $30 million in new long-term debt. The company generated

$8 million in net income and paid $1.8 million in dividends. Construct the current

balance sheet reflecting the changes that occurred at the company during the year.