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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.
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 $ 415,000 Total liabilities, 12/31/19 219,000 74.000 $ 540,000 $ 320,000 147,000 43,000 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 314,000 78,000 20.000 58.000 111,000 71,000 40.000 86,000
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