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.

Would appreciate an explanation for each of the missing fields. Thanks

irm A rm irm C Total assets, 12/31/13 Total liabilities, 12/31/13 Paid-in capital, 12/31/13 Retained earnings, 12/31/13 Net income for 2013 Dividends declared and paid during 2013 Retained earnings, 1/1/13 $420,000 $ 540,000 $ 325,000 195,000 40,000 90,000 113,000 65,000 246,000 42.000 215,000 145,000 85.000 310,000 83,000 19,000 75,000 50,000 78,000