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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 $ 417,000 $ 537,000 $ 322,000 Total liabilities, 12/31/19 211,000 135,000 Paid-in capital, 12/31/19 77,000 38,000 Retained earnings, 12/31/19 300,000 Net income for 2019 79,000 116,000 Dividends declared and paid during 2019 52,000 25,000 65,000 Retained earnings, 1/1/19 72,000 52,000

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