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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 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 A $ 415,000 214,000 90,000 47,000 86,000 Firm B $ 537,000 136,000 308,000 92,000 10,000 Firm C $ 331,000 38,000 118,000 57,000 48,000
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