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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 Dividend declared and paid during 2022 Retained earnings, 1/1/22 $ Firm A Firm B Firm C 419,000 $ 543,000 $ 321,000 207,000 145,000 79,000 53,000 86,000 318,000 82,000 16,000 39,000 118,000 55,000 33,000
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