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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 Firm B Firm C $ 325,000 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 42,000 $ 417,000 $ 546,000 220,000 132,000 77,000 309,000 74,000 53,000 10,000 86,000 117,000 65,000 Dividends declared and paid during 2019 Retained earnings, 1/1/19 34,000

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