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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 Firm B Firm C Total assets, 12/31/19 $ 417,000 $ 536,000 $ 328,000 Total liabilities, 12/31/19 209,000 132,000 Paid-in capital, 12/31/19 85,000 43,000 Retained earnings, 12/31/19 316,000 Net income for 2019 93,000 111,000 Dividends declared and paid during 2019 57,000 21,000.. 69,000 Retained earnings, 1/1/19 81,000 48,000

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 Firm B Firm C Total assets, 12/31/19 $ 417,000 $ 536,000 $ 328,000 Total liabilities, 12/31/19 209,000 132,000 Paid-in capital, 12/31/19 85,000 43,000 Retained earnings, 12/31/19 316,000 Net income for 2019 93,000 111,000 Dividends declared and paid during 2019 57,000 21,000.. 69,000 Retained earnings, 1/1/19 81,000 48,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 Firm B Firm C Total assets, 12/31/19 $ 417,000 $ 536,000 $ 328,000 Total liabilities, 12/31/19 209,000 132,000 Paid-in capital, 12/31/19 85,000 43,000 Retained earnings, 12/31/19 316,000 Net income for 2019 93,000 111,000 Dividends declared and paid during 2019 57,000 21,000 69,000 Retained earnings, 1/1/19 81,000 48,000 ces 1 of 4 Next > Prev in
Transcribed Image Text: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 Firm B Firm C Total assets, 12/31/19 $ 417,000 $ 536,000 $ 328,000 Total liabilities, 12/31/19 209,000 132,000 Paid-in capital, 12/31/19 85,000 43,000 Retained earnings, 12/31/19 316,000 Net income for 2019 93,000 111,000 Dividends declared and paid during 2019 57,000 21,000 69,000 Retained earnings, 1/1/19 81,000 48,000 ces 1 of 4 Next > Prev in
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