Complex sentence: In 1977, Al Capp and the "Li'l Abner" comic strip retired, and First National Bank of Little Rock began foreclosure proceedings on $600,000 in debts.
Split into simpler sentences: In 1977, Al Capp and the "Li'l Abner" comic strip retired. The same year, First National Bank of Little Rock began foreclosure proceedings on $600,000 in debts.