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 eamings 12/31/22 Net income for 2022 Dividends declared and paid during 2022 Retained earnings 1/1/22 $ Firm A 400,000 $ 222.000 86.000 49.000 69.000 Firm B Firm C 538.000 $ 327,000 137,000 312,000 00,000 22,000 35,000 112.000 65.000 50,000

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 liabilities, 12/31/22 Paid-in capital, 12/31/22 Retained eamings 12/31/22 Net income for 2022 Dividends declared and paid during 2022 Retained earnings 1/1/22 $ Firm A 400,000 $ 222.000 86.000 49.000 69.000 Firm B Firm C 538.000 $ 327,000 137,000 312,000 00,000 22,000 35,000 112.000 65.000 50,000

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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