determine net income for the years ending December 31, 20X6, 20X7, 20X8, and 20X9.

Scream Clean Company provided the following very limited set of data. Use this information to determine net income for the years ending December 31, 20X6, 20X7, 20X8, and 20X9. The company was formed at the beginning of January, 20X6 by issuing $350,000 of capital stock. No additional shares were issued during the 4-year period. The company’s 20X9 dividends were equal to 50% of the 20X9 net income.    Revenues, 20X7 $315.000     Dividends, 20X8 52.500    Total equity, December 31, 20X8 735.000      Total liabilities,  December 31, 20X8 770.000      Retained earnings, December 31, 20X6 143.500      Expenses, 20X7 154.000      Retained earnings, December 31, 20X7 280.000    Dividends, 20X6 35.000        Total assets, December 31, 20X9 1.750.000      Increase in liabilities, 20X9 175.000       Worksheet 4       • 20X6       • 20X7      20X8  • 20X9

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