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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. Total assets, 12/31/22 Total liabilibes, 12/31/22 Paid-in capital, 12/31/22 Retained earnings, 12/31/22 Net income for 2022 Dividends declared and paid during 2022 Retained earings, 1/1/22 Firm A $ 405,000 219,000 84,000 55,000 71,000 Firm B $530,000$ 138.000 305.000 88,000 17,000 Firm C 334,000 42,000 114,000 58,000 36.000

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. Total assets, 12/31/22 Total liabilibes, 12/31/22 Paid-in capital, 12/31/22 Retained earnings, 12/31/22 Net income for 2022 Dividends declared and paid during 2022 Retained earings, 1/1/22 Firm A $ 405,000 219,000 84,000 55,000 71,000 Firm B $530,000$ 138.000 305.000 88,000 17,000 Firm C 334,000 42,000 114,000 58,000 36.000

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, 2022, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Total assets, 12/31/22 Total liabilities, 12/31/22 Paid-in capital, 12/31/22 Retained earnings, 12/31/22 Net income for 2022 Dividends declared and paid during 2022 Retained earnings, 1/1/22 Firm A Firm B Firm C $ 405,000 $ 536,000 $334,000 219,000 138,000 84,000 55,000 71,000 305,000 88,000 17,000 42,000 114,000 58,000 36,000
Transcribed Image Text: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. Total assets, 12/31/22 Total liabilities, 12/31/22 Paid-in capital, 12/31/22 Retained earnings, 12/31/22 Net income for 2022 Dividends declared and paid during 2022 Retained earnings, 1/1/22 Firm A Firm B Firm C $ 405,000 $ 536,000 $334,000 219,000 138,000 84,000 55,000 71,000 305,000 88,000 17,000 42,000 114,000 58,000 36,000
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