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 $ 400,000 222,000 77,000 Firm B $ 539,000 141,000 Firm C $ 318,000 47,000 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, 1/1/19 316,000 73,000 27,000 60,000 69,000 111,000 60,000 52,000
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