The information presented here represents selected data from the December 31, 2022, balance sheets and income statements f 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 $ 412,000 225,000 85,000 40,000 83,000 Firm B Firm C $ 530,000 $ 329,000 144,000 312,000 78,000 18,000 31,000 111,000 72,000 39,000

The information presented here represents selected data from the December 31, 2022, balance sheets and income statements f 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 $ 412,000 225,000 85,000 40,000 83,000 Firm B Firm C $ 530,000 $ 329,000 144,000 312,000 78,000 18,000 31,000 111,000 72,000 39,000

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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