Accounting

The information presented here represents selected data from the December 31, 2013, 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 Firm C
Total assets, 12/31/13 $420,000 $531,000 $333,000
Total liabilities, 12/31/13 216,000 134,000 X
Paid-in capital, 12/31/13 78,000 X 31,000
Retained earnings, 12/31/13 X 302,000 X
Net income for 2013 102,000 82,000 114,000
Dividends declared and paid during 2013 52,000 25,000 69,000
Retained earnings, 1/1/13 76,000 X 51,000

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