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Calculate the missing amounts for each firm.

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.

Solution Summary

The expert calculates the mission amounts for each firm.

$2.19