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The information presented here represents selected data from the December 31, 2022, balance sheets year then ended for three firms. Required: Calculate the missing
The information presented here represents selected data from the December 31, 2022, balance sheets year then ended for three firms. Required: Calculate the missing amounts for each firm. Answer is complete but not entirely correct. Firm A Firm B Firm C Total assets, 12/31/22 $ 415,000 $ 543,000 $ 334,000 Total liabilities, 12/31/22 211,000 133,000 109,000 Paid-in capital, 12/31/22 83,000 96,000 47,000 Retained earnings, 12/31/22 287,000 314,000 178,000 Net income for 2022 227,000 84,000 116,000 Dividends declared and paid during 2022 60,000 26,000 56,000 Retained earnings, 1/1/22 81,000 256,000 49,000
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