me information presented here represents selected data from the December 31, 2016, balances nded for three firms. equired: alculate the missing amounts for each firm. Total assets, 12/31/16 Total liabilities, 12/31/16 Paid-in capital, 12/31/16 Retained earnings 12/31/ Firm A $ 412,000 217,000 83,000 113.000 Firm B $543,000 148,000 95,000 300.000 Firm C $317,000, 37,000
me information presented here represents selected data from the December 31, 2016, balances nded for three firms. equired: alculate the missing amounts for each firm. Total assets, 12/31/16 Total liabilities, 12/31/16 Paid-in capital, 12/31/16 Retained earnings 12/31/ Firm A $ 412,000 217,000 83,000 113.000 Firm B $543,000 148,000 95,000 300.000 Firm C $317,000, 37,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![The information presented here represents selected data from the December 31, 2016, balance sheets and income statements for the year then
ended for three firms.
Required:
Calculate the missing amounts for each firm.
Total assets, 12/31/16
Total liabilities, 12/31/16
Paid-in capital, 12/31/16
Retained earnings, 12/31/16
Net income for 2016
Dividends declared and paid during 2016
Retained earnings, 1/1/16
Firm A
$ 412,000
217,000
83,000
112,000
78,000
43,000
77,000
Firm B
$ 543,000
148,000
95,000
300,000
74,000
13,000
Firm C
$ 317,000
37,000
120,000
71,000
32,000
A
14
D
Y](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F561aa1ef-92aa-47a4-b070-5117b3295b00%2Ff059e0ba-111a-4ba1-85d6-d3098e477021%2Fq3kexj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The information presented here represents selected data from the December 31, 2016, balance sheets and income statements for the year then
ended for three firms.
Required:
Calculate the missing amounts for each firm.
Total assets, 12/31/16
Total liabilities, 12/31/16
Paid-in capital, 12/31/16
Retained earnings, 12/31/16
Net income for 2016
Dividends declared and paid during 2016
Retained earnings, 1/1/16
Firm A
$ 412,000
217,000
83,000
112,000
78,000
43,000
77,000
Firm B
$ 543,000
148,000
95,000
300,000
74,000
13,000
Firm C
$ 317,000
37,000
120,000
71,000
32,000
A
14
D
Y
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