The information presented here represents selected data from the December 31, 2016, balance sheets and income statements
Question:
The information presented here represents selected data from the December 31, 2016, balance sheets and income statements for the year then ended for three firms:
Required:
Calculate the missing amounts for each firm.
Transcribed Image Text:
Firm A Firm B Firm C $210,00O $270,000 $162,000 Total assets, 12/31/16 Total liabilities, 12/31/16 Paid-in capital, 12/31/16 Retained earrings, 12/31/16 Net income for 2016 Dividends declared and paid during 2016 Retained earnings, 1/1/16 108,000 72,000 ? 155,000 37,000 20,000 25,000 39,000 ? 41,000 56,000 32,000 ? 21,000 9,000
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Related Book For
Accounting What the Numbers Mean
ISBN: 978-1259535314
11th edition
Authors: David Marshall, Wayne McManus, Daniel Viele
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