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Business, 11.02.2020 01:53 amandasantiago2001

The information presented here represents selected data from the December 31, 2016, balance sheets and income statements for the year then ended for three firms. Firm A Firm B Firm CTotal assets, 12/31/16 $417,000 $536,000 $316,000Total liabilities, 12/31/16 216,000 144,000 Paid-in capital, 12/31/16 75,000 37,000Retained earnings, 12/31/16 307,000 Net income for 2016 85,000 117,000Dividends declared and paid during 2016 44,000 9,000 66,000Retained earnings, 1/1/16 76,000 44,000Required:Calculate the missing amounts for each firm.

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