The information presented here represents selected data from the December 31, 2022, balance sheets and income...
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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 firms. 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 Dividends declared and paid during 2022 Retained earnings, 1/1/22 Firm A $ 404,000 217,000 85,000 51,000 87,000 Firm B $ 541,000 146,000 308,000 91,000 19,000 Firm C $334,000 36,000 112,000 73,000 39,000 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. 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 Dividends declared and paid during 2022 Retained earnings, 1/1/22 Firm A $ 404,000 217,000 85,000 51,000 87,000 Firm B $ 541,000 146,000 308,000 91,000 19,000 Firm C $334,000 36,000 112,000 73,000 39,000
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Firm A Net Income for 2022 Total Assets 123122 Total Liabilities 123122 Paidin Capital 123122 Retain... View the full answer
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