The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B $ 217,500 Firm C $ 260,000 102,500 70,000 40,000 27,500 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 29,500 93,000 55,000 34,000 6,000 25,000 40,500 14,000 62,000
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