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The following table presents the long term liabilities and stockholdersâ equity of Information Control Corp one year ago Long term debt $ 66800000 Preferred stock 4180,000 Common stock

The following table presents the long-term liabilities and stockholders’ equity of Information Control Corp. one year ago:


Long-term debt $ 66,800,000
Preferred stock   4,180,000
Common stock ($1 par value)   16,800,000
Accumulated retained earnings   136,800,000
Capital surplus   46,800,000


During the past year, Information Control issued 11.8 million shares of new stock at a total price of $61.6 million, and issued $36.8 million in new long-term debt. The company generated $12.6 million in net income and paid $3.8 million in dividends.


Prepare the current balance sheet reflecting the changes that occurred at Information Control Corp. during the year. (Do not round intermediate calculations. Enter your answers in dollars, not millions of dollars, i.e. 1,234,567.)


Control Corp.
Current Balance Sheet
(Click to select)Preferred stockCommon stockAccumulated retained earningsLong-term debtAccounts payableCapital surplus $
Total long-term debt $
Shareholders equity  
(Click to select)Preferred stockAccounts payableAccumulated retained earningsCapital surplusCommon stockLong-term debt $
(Click to select)Long-term debtAccounts payableAccumulated retained earningsPreferred stockCommon stockCapital surplus  
(Click to select)Long-term debtCommon stockCapital surplusPreferred stockAccumulated retained earningsAccounts payable  
(Click to select)Long-term debtAccounts payableCommon stockAccumulated retained earningsCapital surplusPreferred stock  
Total equity $
Total Liabilities & Equity $

Aug 09 2020 Read more Less More

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