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The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for year then ended for three firms. Required:

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The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for year then ended for three firms. Required: Calculate the missing amounts for each firm. Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 Firm A Firm B Firm $ 413,000 $544,000 $ 320,000 223,000 131,000 75,000 38,000 315,000 92,000 117.000 42,000 18,000 74,000 71.000 35.000

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