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 403,000 222,000 83,000 45,000 68,000 Firm B Firm C 535,000 $ 333,000 137,000 315,000 89,000 20,000 48,000 117,000 71,000 51,000
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 $ Firm A 403,000 222,000 83,000 45,000 68,000 Firm B Firm C 535,000 $ 333,000 137,000 315,000 89,000 20,000 48,000 117,000 71,000 51,000
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
$
Firm A
403,000
222,000
83,000
45,000
68,000
Firm B
Firm C
535,000 $ 333,000
137,000
315,000
89,000
20,000
48,000
117,000
71,000
51,000
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