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 400,000 220,000 90,000 43,000 85,000 Firm B Firm C $ 532,000 $ 326,000 137,000 302,000 87,000 28,000 34,000 117,000 59,000 41,000 Assessment Tool iFrame
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 400,000 220,000 90,000 43,000 85,000 Firm B Firm C $ 532,000 $ 326,000 137,000 302,000 87,000 28,000 34,000 117,000 59,000 41,000 Assessment Tool iFrame
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
$ 400,000 $ 532,000
220,000
137,000
90,000
43,000
85,000
302,000
87,000
28,000
Firm C
$ 326,000
34,000
117,000
59,000
41,000
Assessment Tool iFrame
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