Exercise 2-9 (Algo) Understanding financial statement relationships LO 2, 3 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 Total assets, 12/31/19 Total liabilities, 12/31/19 $ 408,000 $550,000 $ 323,000 220,000 140,000 Paid-in capital, 12/31/19 79,000 34,000 Retained eamings, 12/31/19 313,000 Net income for 2019 87,000 116,000 Dividends declared and paid during 2019 51,000 19,000 67,000 Retained earnings, 1/1/19 79,000 48,000