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The following table presents the long-term liabilities and stockholders equity of Information Control Corp. one year ago: Long-term debt $ 65,700,000 Preferred stock 4,070,000 Common
The following table presents the long-term liabilities and stockholders equity of Information Control Corp. one year ago:
Long-term debt | $ | 65,700,000 | |
Preferred stock | 4,070,000 | ||
Common stock ($1 par value) | 15,700,000 | ||
Capital surplus | 45,700,000 | ||
Accumulated retained earnings | 135,700,000 | ||
During the past year, the company issued 10.7 million shares of new stock at a total price of $59.4 million, and issued $35.7 million in new long-term debt. The company generated $10.4 million in net income and paid $2.7 million in dividends. Prepare the current balance sheet reflecting the changes that occurred at the company during the year.
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