The following table presents the long-term liabilities and stockholders’ equity of information control corp. one year ago:

long-term debt $ 66,900,000
preferred stock 4,190,000
common stock ($1 par value) 16,900,000
capital surplus 46,900,000
accumulated retained earnings 136,900,000

during the past year, the company issued 11.9 million shares of new stock at a total price of $61.8 million, and issued $36.9 million in new long-term debt. the company generated $12.8 million in net income and paid $3.9 million in dividends.

prepare the current balance sheet reflecting the changes that occurred at the company during the year.(do not round intermediate calculations. enter your answers in dollars, not millions of dollars, e. g., 1,234,567.)

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.