Question

O Mail - Newsome, Atina - Outlook Module 1 Homework Microsoft Ofice Home x C Edu A newconnect.mheducation.com/flow/connect.html I Downloads E atina newsome - Ya. M Morningstar Invest... G Inbox (29) - atinane. New Tab Donnett40# Yahoo M McGiraw-Hill Conne.. ting Started edule 1 Homework i Saved 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. oirts Skipped Firm A Firm B Firm C S 404,000 S 545 000 S 325.000 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital 12/31/19 Retained earnings. 12/31/19 223 000 82,000 eBook 135,000 46,000 303 000 Prire Net income for 2019 118.000 83,000 Relerences Dividends declared and paid during 2019 Relained earnings. 1/1/19 59.000 66 000 12,000 67 000 41 000

Answer 1

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	Firm A	Firm B	Firm C
Total assets, 12/31/19	$4,04,000	$5,45,000	$3,25,000
Total Liabilities, 12/31/19	$2,23,000	$1,35,000	$1,87,000
Paid - in - capital, 12/31/19	$    82,000	$1,07,000	$    46,000
Retained Earnings, 12/31/19	$    99,000	$3,03,000	$    92,000
Net income for 2019	$    72,000	$    83,000	$1,18,000
Dividends paid and declared during 2019	$    59,000	$    12,000	$    67,000
Retained earnings, 1/1/19	$    86,000	$2,32,000	$    41,000

A 1 Firm A 2 Total assets, 12/31/19 404000 3 Total Liabilities, 12/31/19 223000 4 Paid - in - capital, 12/31/19 82000 5 Retained Earnings, 12/31/19 =B2-B3-B4 6 Net income for 2019 =B5-B8+B7 7 Dividends paid and declared during 2019 59000 8 Retained earnings, 1/1/19 86000 Firm B 545000 135000 =C2-C3-C5 303000 83000 12000 =C5-C6+C7 Firm C 325000 =D2-D4-D5 46000 =D8+D6-D7 118000 67000 41000 GF BEHEEEEEEEE