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 120.000 82,500 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, 11/19 Firm B Firm $ 652,500 $ 780,000 307,500 38,500 210,000 279.000 165,000 121,500 42,000 186,000 102,000 18,000 75,000
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