**HELP WITH PART A**PARTS WITH RED X**

The Verbrugge Publishing Company's 2019 balance sheet and income statement are as follows (in millions of dollars).

Balance Sheet
Current assets	$300		Current liabilities	$	40
Net fixed assets	200		Advance payments by customers	80
			Noncallable preferred stock, $6 coupon, $110 par value (1,000,000 shares)	110
			Callable preferred stock, $10 coupon, no par, $100 call price (200,000 shares)	200
			Common stock, $2 par value (5,000,000 shares)	10
			Retained earnings	60
Total assets	$500		Total liabilities & equity	$500

Income Statement
Net sales	$	540
Operating expense		516
Net operating inome	$	24
Other income		4
EBT	$	28
Taxes (25%)		7
Net income	$	21
Dividends on $6 preferred		6
Dividends on $10 preferred		2
Income available to common stockholders	$	13

Verbrugge and its creditors have agreed upon a voluntary reorganization plan. In this plan, each share of the noncallable preferred will be exchanged for 1 share of $2.50 preferred with a par value of $38 plus one 9% subordinated income debenture with a par value of $72. The callable preferred issue will be retired with cash generated by reducing current assets.

millions. For example, an answer of $1 million should be entered as 1 , not 1,000,000. Round your answers to the nearest whole number. The projected balance sheet (in millions of dollars) follows: the nearest whole number. $ (3) million millions. For example, an answer of $1 million should be entered as 1 , not 1,000,000. Round your answers to the nearest whole number. The projected balance sheet (in millions of dollars) follows: the nearest whole number. $ (3) million