Week 1 Problem 2-7 Building a Balance Sheet, business and finance homework help

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Problem 2-7 Building a Balance Sheet
The following table presents the long-term liabilities and stockholders’ equity of Information Control Corp. one year
ago:

Long-term debt
Preferred stock
Common stock ($1 par value)
Accumulated retained earnings
Capital surplus

$

66,600,000
4,160,000
16,600,000
136,600,000
46,600,000

During the past year, Information Control issued 11.6 million shares of new stock at a total price of $61.2 million,
and issued $36.6 million in new long-term debt. The company g...


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