calculate the missing amounts for each firm 636865

Understanding financial statement relationships 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

$420,000

$540,000

$325,000

Total   liabilities, 12/31/10

215,000

145,000

?

Paid in   capital, 12/31/10

75,000

?

40,000

Retained   earnings, 12/31/10

?

310,000

?

Net   income for 2010

?

83,000

113,000

Dividends   declared and paid during 2010

50,000

19,000

65,000

Retained   earnings, 1/1/10

78,000

?

42,000

Required:

Calculate the missing amounts for each firm.