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    Calculate the missing amounts for each firm.

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    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...................... $? $435,000 $155,000
    Tota1 liabilities, 12/31/10..................... 80,000 ? $75,000
    Paid-in capital, 12/31/10...................... 55,000 59,000 45,000
    Retained earnings, 12/31/10................ ? 186,000 ?
    Net income for 2010............................ 68,000 110,000 25,5000
    Dividends declared and paid during 2010...12,000 ? 16,5000
    Retained earnings, 1/1/10........................ 50,000 124,000 ?

    Calculate the missing amounts for each firm.

    © BrainMass Inc. brainmass.com June 4, 2020, 2:19 am ad1c9bdddf
    https://brainmass.com/business/accounting/calculate-missing-amounts-each-firm-451664

    Solution Summary

    The expert calculates the mission amounts for each firm.

    $2.19

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