Managerial Finance

Problem 2-7 Building a Balance Sheet The following table presents the long-term liabilities and stockholders' equity of Information Control Corp. from one year ago: During the past year, the company issued 11.4 million shares of new stock at a total price of $60.8 million, and issued $36.4 million in new. long-term debt. The company generated $11.8 million in net income and paid $3.4 million in dividends. Construct the current balance sheet reflecting the changes that occurred at the company during the year. (Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, e.g., 1,234,567.)