Question: The information presented here represents selected data from the December 31, 2013, balance sheets and income statements for the year then ended for three firms.

The information presented here represents selected data from the December 31, 2013, 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 12/31/13 $407,000 $539,000 $332,000
Total liabilities, 12/31/13 211,000 147,000
Paid-in captial, 12/31/13 70,000 34,000
Retained eranings 12/31/13 300,000
Net income for 2013 74,000 117,000
Dividens declared and paid during 2013 47,000 10,000 68,000
Retained eranings 1/1/13 84,000 42,000

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