**** wond 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 $ 407,000 205,000 72,000 56,000 84,000 Firm B Firm C $ 531,000 $ 332,000 140,000 315,000 92,000 20,000 31,000 119,000 60,000 43,000
**** wond 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 $ 407,000 205,000 72,000 56,000 84,000 Firm B Firm C $ 531,000 $ 332,000 140,000 315,000 92,000 20,000 31,000 119,000 60,000 43,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![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
407,000
205,000
72,000
56,000
84,000
Firm B
$ 531,000 $
140,000
315,000
92,000
20,000
Firm C
332,000
31,000
119,000
60,000
43,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff00eec5b-9786-448b-910c-6bfb25bd54c5%2Fa2c2de3b-aa6f-4f53-801c-38af2e7a5850%2Fwoi93rk_processed.jpeg&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
407,000
205,000
72,000
56,000
84,000
Firm B
$ 531,000 $
140,000
315,000
92,000
20,000
Firm C
332,000
31,000
119,000
60,000
43,000
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