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, 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, 12/31/19 104,000 $ 565,500 $ 676,000 266,500 Paid-in capital, 12/31/19 71,500 76,700 182,000 Retained earnings, 12/31/19 241,800 Net income for 2019 88,400 143,000 105,300 Dividends declared and paid during 2019 15,600 36,400 Retained earnings, 1/1/19 65,000 161,200
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