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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:
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. Total assets, 12/31/22 Total liabilities, 12/31/22 Paid-in capital, 12/31/22 Retained earnings, 12/31/22 Net income for 2022 Dividends declared and paid during 2022 Retained earnings, 1/1/22 Firm A Firm B $ 405,000 $ 190,000 295,000 55,000 42,000 18,000 26,000 108,000 33,000 11,000 Firm C $ 202,000 30,000 71,000 24,000 44,000
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