Exercise 2-11 (Algo) Understanding financial statement relationships LO 2-2, 2-3 The information presented here represents selected data from the December 31, 2022, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B Firm C Total assets, 12/31/22 Total liabilities, 12/31/22 $ 412,000 $ 534,000 $ 318,000 210,000 134,000 Paid-in capital, 12/31/22 84,000 35,000 Retained earnings, 12/31/22 307,000 Net income for 2022 90,000 118,000 Dividends declared and paid during 2022 55,000 18,000 66,000 Retained earnings, 1/1/22 86,000 49,000