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The information presented here represents selected data from the December 31, 2022, balance sheets and income statements for the year then ended for three

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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 $ 409,000 $ 541,000 $ 324,000 Total liabilities, 12/31/22 207,000 132,000 Paid-in capital, 12/31/22 75,000 49,000 Retained earnings, 12/31/22 303,000 Net income for 2022 75,000 118,000 Dividends declared and paid during 2022 46,000 21,000 56,000 Retained earnings, 1/1/22 77,000 46,000

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