Question: The information presented here represents selected data from the December 31, 2010, balance sheets and income statements for the year then ended for three firms:

The information presented here represents selected data from the December 31, 2010, balance sheets and income statements for the year then ended for three firms:

Required:
Calculate the missing amounts for eachfirm.

Firm A Firm B Firm C Total assets, 12/31/10.... Total liabilities, 12/31/10..m.... Paid-in capital, 12/31/10 Retained eanings, 12/31/10... . ? $435,000 $155,000 ? 75,000 55,000 59,000 45,000 $80,000 ... ..5 186,000 6,500 Dividends declared and paid during 2010 Retained eamings, 1/1/10 12,000 50,000 124,000

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