Question
The following table presents the long-term liabilities and stockholders equity of Information Control Corp. one year ago: Long-term debt $ 65,100,000 Preferred stock 4,010,000 Common
The following table presents the long-term liabilities and stockholders equity of Information Control Corp. one year ago: Long-term debt $ 65,100,000 Preferred stock 4,010,000 Common stock ($1 par value) 15,100,000 Capital surplus 45,100,000 Accumulated retained earnings 135,100,000 During the past year, the company issued 10.1 million shares of new stock at a total price of $58.2 million, and issued $35.1 million in new long-term debt. The company generated $9.2 million in net income and paid $2.1 million in dividends. Prepare the current balance sheet reflecting the changes that occurred at the company during the year.
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