Understanding financial statement relationships. The information presented here presents selected data from the Dec ember 31, 2013 , balance sheets and income statements for the year then ended for...

Understanding financial statement relationships. The information presented here presents selected data from the Dec ember 31, 2013 , balance sheets and income statements for the year then ended for three firms Firm A Firm B Firm C Total assets, 12/31/13Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦ ? $870,000 $310,000 Total liabilities, 12/31/13Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦.. $160,000 ? 150,000 Paid-in capital, 12/31/13Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦ 110,000 118,000 90,000 Retained earnings, 12/31/13Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦.. ? 372,000 ? Net income for 2013Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦.. 136,000 220,000 51,000 Dividends declared and paid during 2013. 24,000 ? 33,500 Retained earnings, 1/1/13Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦.. 100,000 248,000 ?