Calculate missing amounts for firm

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Understanding financial statement relationships The information presented here represents selected data from the December 31, 2010, balance sheets and income statements for the year then ended for three firms:


Firm A

Firm B

Firm C

Total assets, 12/31/10

$420,000

$540,000

$325,000

Total liabilities, 12/31/10

215,000

145,000

?

Paid-in capital, 12/31/10

75,000

?

40,000

Retained earnings, 12/31/10

?

310,000

?

Net income for 2010

?

83,000

113,000

Dividends declared and paid during 2010

50,000

19,000

65,000

Retained earnings, 1/1/10

78,000

?

42,000

Required:

Calculate the missing amounts for each firm.

Reference no: EM13535463

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