Question
The following table presents the long-term liabilities and stockholders equity of Information Control Corp. one year ago: Long-term debt $ 65,800,000 Preferred stock 4,080,000 Common
The following table presents the long-term liabilities and stockholders equity of Information Control Corp. one year ago:
Long-term debt | $ | 65,800,000 | |
Preferred stock | 4,080,000 | ||
Common stock ($1 par value) | 15,800,000 | ||
Capital surplus | 45,800,000 | ||
Accumulated retained earnings | 135,800,000 | ||
During the past year, the company issued 10.8 million shares of new stock at a total price of $59.6 million, and issued $35.8 million in new long-term debt. The company generated $10.6 million in net income and paid $2.8 million in dividends. Prepare the current balance sheet reflecting the changes that occurred at the company during the year. (Do not round intermediate calculations. Enter your answers in dollars, not millions of dollars, e.g., 1,234,567.)
INFORMATION CONTROL CORP. Current Balance Sheet | |||
(Click to select)Accumulated retained earningsLong-term debtPreferred stockCapital surplusAccounts payableCommon stock | $ | ||
Total long-term debt | $ | ||
Shareholders' equity | |||
(Click to select)Accounts payableCapital surplusCommon stockAccumulated retained earningsPreferred stockLong-term debt | $ | ||
(Click to select)Accumulated retained earningsAccounts payableCommon stockCapital surplusLong-term debtPreferred stock | |||
(Click to select)Preferred stockCapital surplusCommon stockAccumulated retained earningsLong-term debtAccounts payable | |||
(Click to select)Common stockAccumulated retained earningsPreferred stockCapital surplusLong-term debtAccounts payable | |||
Total equity | $ | ||
Total liabilities & equity | $ |
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