The December 31, 2009, balance sheet of Schism, Inc., showed long-term debt of $

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The December 31, 2009, balance sheet of Schism, Inc., showed long-term debt of $1.460 million, $152,000 in the common stock account and $2.77 million in the additional paid-in surplus account. The December 31, 2010, balance sheet showed long-term debt of $1.70 million, $162,000 in the common stock account and $3.07 million in the additional paid-in surplus account. The 2010 income statement showed an interest expense of $100,000 and the company paid out $157,000 in cash dividends during 2010. The firm

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