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 $ २ Firm A 405,000 $ 211,000 77,000 56,000 77,000 Firm B 547,000 $ 132,000 307,000 75,000 27,000 Firm C 328,000 36,000 116,000 60,000 46,000
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 earnings, 12/31/22 Net income for 2022 Dividends declared and paid during 2022 Retained earnings, 1/1/22 $ २ Firm A 405,000 $ 211,000 77,000 56,000 77,000 Firm B 547,000 $ 132,000 307,000 75,000 27,000 Firm C 328,000 36,000 116,000 60,000 46,000
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
$
2
Firm A
Firm B
Firm C
405,000 $ 547,000 $ 328,000
211,000
132,000
77,000
56,000
77,000
307,000
75,000
27,000
36,000
116,000
60,000
46,000
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