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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.

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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 120,000 82,500 Total assets, 12/31/19 Total liabilities, 12/31/19 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 Firm B Firm $ 652,500 $ 780,000 307,500 88,500 210,000 279,000 165,000 121,500 42,000 186.000 102,000 18,000 75,000

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