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 402,000 208,000 80,000 50,000 85,000
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 402,000 208,000 80,000 50,000 85,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
a
![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
402,000
208,000
80,000
50,000
85,000
$
Firm B
543 000
13
316,000
78,000
13,000
$
Firm C
317,000
33,000
113,000
73,000
35,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbd1d447a-3ef9-4d6a-88cb-2e12d9fdd2b4%2Fe2bea881-720b-4588-b681-d12013843bac%2Fidaf1l_processed.png&w=3840&q=75)
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
402,000
208,000
80,000
50,000
85,000
$
Firm B
543 000
13
316,000
78,000
13,000
$
Firm C
317,000
33,000
113,000
73,000
35,000
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