Question: 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:

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:

Total assets, 12/31/22. . . . . Total liabilities, 12/31/22. . ..

Required:
Calculate the missing amounts for each firm.

Total assets, 12/31/22. . . . . Total liabilities, 12/31/22. . .. Paid-in capital, 12/31/22... Retained earnings, 12/31/22 Net income for 2022.. declared and Dividends paid during 2022 Retained earnings, 1/1/22. . Firm A $405,000 295,000 42,000 ? ? 18,000 26,000 Firm B $190,000 55,000 ? 108,000 33,000 11,000 ? Firm C $202,000 ? 30,000 ? 71,000 24,000 44,000

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