The information presented here represents selected data from the December 31, 2022, balance sheets and income...

 

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The information presented here represents selected data from the December 31, 2022, 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, 12/31/22 $ 403,000 $ 535,000 $ 333,000 Total liabilities, 12/31/22 222,000 137,000 Paid-in capital, 12/31/22 83,000 48,000 Retained earnings, 12/31/22 315,000 Net income for 2022 89,000 117,000 Dividends declared and paid during 2022 45,000 20,000 71,000 Retained earnings, 1/1/22 68,000 51,000 The information presented here represents selected data from the December 31, 2022, 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, 12/31/22 $ 403,000 $ 535,000 $ 333,000 Total liabilities, 12/31/22 222,000 137,000 Paid-in capital, 12/31/22 83,000 48,000 Retained earnings, 12/31/22 315,000 Net income for 2022 89,000 117,000 Dividends declared and paid during 2022 45,000 20,000 71,000 Retained earnings, 1/1/22 68,000 51,000