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. Firm A Firm B Firm C Total assets, 12/31/19 Total liabilities, 12/31/19 $ 304,500 $ 364,000 56,000 143,500 Paid-in capital, 12/31/19 38,500 41,300 98,000 Retained earnings, 12/31/19 130,200 Net income for 2019 47,600 77,000 56,700 Dividends declared and paid during 2019 8,400 19,600 Retained earnings, 1/1/191 35,000 86,800

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