The information presented here represents selected data from the
The information presented here represents selected data from the December 31, 2013, balance sheets and income statements for the year then ended for three firms
| Firm A | Firm B | Firm C | |
| Total assets | 482,000 | 870,000 | 310,000 |
| Total liabilities | 160,000 | 150,000 | |
| Paid-in capital | 110,000 | 118,000 | 90,000 |
| Retained earnings | 212,000 | 372,000 | |
| Net income | 136,000 | 220,000 | 51,000 |
| Dividends declared and paid during 2013 | 24,000 | 33,000 | |
| Retained earnings | 100,000 | 248,000 |
