The following table presents the long-term liabilities and stockholders' equity of Information Control Corporation from one year ago: Long-term debt $ 65,200,000 Preferred stock 4,020,000 Common stock ($1 par value) 15,200,000 Accumulated retained earnings 135,200,000 Capital surplus 45,200,000 During the past year, the company issued 10.2 million shares of new stock at a total price of $58.4 million, and issued $35.2 million in new long-term debt. The company generated $9.4 million in net income and paid $2.2 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.)

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...
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The following table presents the long-term liabilities
and stockholders' equity of Information Control
Corporation from one year ago:
Long-term debt $ 65,200,000
Preferred stock 4,020,000
Common stock ($1 par value) 15,200,000
Accumulated retained earnings 135,200,000
Capital surplus 45,200,000
During the past year, the company issued 10.2 million
shares of new stock at a total price of $58.4 million, and
issued $35.2 million in new long-term debt. The
company generated $9.4 million in net income and paid
$2.2 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.)
Transcribed Image Text:The following table presents the long-term liabilities and stockholders' equity of Information Control Corporation from one year ago: Long-term debt $ 65,200,000 Preferred stock 4,020,000 Common stock ($1 par value) 15,200,000 Accumulated retained earnings 135,200,000 Capital surplus 45,200,000 During the past year, the company issued 10.2 million shares of new stock at a total price of $58.4 million, and issued $35.2 million in new long-term debt. The company generated $9.4 million in net income and paid $2.2 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.)
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