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The Information presented here represents selected data from the December 31, 2019, 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, 2019, 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, 12/31/19 $ 870,000 $ 310,000 Total liabilities, 12/31/19 160,000 150,000 Paid-in capital, 12/31/19 110,000 118,000 90,000 Retained earnings, 12/31/19 372.000 Net income for 2019 136.000 220,000 50,000 Dividends declared and paid during 2019 24.000 32,000 Retained earnings, 1/1/19 100,000 248,000

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