Question: 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 earnings, 1/1/19 Finn A Firm B Firm C $ 401,000 $ 545,000 $ 321,000 217,000 134,000 78,000 41,000 303,000 77,000 117.000 45,000 24,000 74,000 84,000 32,000
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