Required:
Calculate the missing amounts for each firm.
Firm A
Firm B
Firm C
Total assets, 12/31/22
$ 405,000 $ 190,000 $ 202,000
Total liabilities, 12/31/22
295,000
55,000
Paid-in capital, 12/31/22
42,000
30,000
Retained earnings, 12/31/22
108,000
Net income for 2022
33,000
71,000
Dividends declared and paid during 2022
18,000
11,000
24,000
Retained earnings, 1/1/22
26,000
44,000