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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 earings. 1/1/19 Firm A Firm B Firm C $ 402,000 $ 537 000 $ 324,000 207.000 142,000 32.000 33.000 306 000 82 000 110,000 44000 17 000 62.000 77.000 45 000
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