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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

 

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. Firm A Firm B Firm C Total assets, 12/31/22 $ 403,000 $ 535,000 $ 333,000 Total liabilities, 12/31/22 222,000 137,000 Paid-in capital, 12/31/22 83,000 48,000 Retained earnings, 12/31/22 315,000 Net income for 2022 89,000 117,000 Dividends declared and paid during 2022 45,000 20,000 71,000 Retained earnings, 1/1/22 68,000 51,000

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