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

The information presented here represents selected data from the December 31, 2019,

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 Total assets, 12/31/19 Total liabilities, 12/31/19 $ 409,000 $ 535,000 206,000 143,000 Paid-in capital, 12/31/19 75,000 Retained earnings, 12/31/19 315,000 Net income for 2019 84,000 Dividends declared and paid during 2019 49,000 19,000 Retained earnings, 1/1/19 76,000

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