Question: Understanding financial statement relationships. The information presented here presents selected data from the Dec ember 31, 2010 , balance sheets and income statements for the

Understanding financial statement relationships. The information presented here presents selected data from the Dec ember 31, 2010 , 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 12/31/10 $420,000 $540,000 $325,000 Total Liabilities 12/31/10 215,000 145,000 ? Paid

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