The following table presents the long-term liabilities and stockholders' equity of Information Control Corp. one year ago: During the past year, Information Control issued 11.5 million shares of new stock at a total price of $61 million, and issued $36.5 million in new long-term debt. The company generated $12 million in net income and paid $3.5 million in dividends. Prepare the current balance sheet reflecting the changes that occurred at Information Control Corp. during the year.

Total liabilities and shareholders' equity = $376,150.000

Explanation:

                             Information Control Corp.

                                     Balance Sheet

Long-term debt (1)                                          103,000,000

Total liabilities                                                                       $103,000,000

Shareholders' Equity

Common stock (2)                                             $28,000,000

Preferred stock (3)                                                  4,150,000

Capital Surplus (Additional paid in capital) (4) $96,000,000

Retained earnings (5)                                      $145,000,000

Total shareholders' Equity                                                  $273,150,000

Total liabilities and shareholders' equity                        $376,150.000

Notes:

1. Long-term debt = Present year debt + past year debt = $66,500,000+36,500,000 = 103,000,000.

2. Common stock = Present year + past year = $16,500,000+11,500,000 = $28,000,000

3. Preferred stock = Currently no preferred stock has issued

4. Capital surplus = Present year + past year = $46,500,000 + 49,500,000 = $96,000,000

5. Ending Retained earnings = Beginning R.E + Net Income - Dividends $136,500,000 = Beginning R.E + 12,000,000 - 3,500,000

or, Beginning Retained Earnings = $136,500,000 + 8,500,000 = $145,000,000

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those r all of them i believe