Case \#6-Understanding the accumulation of retained earnings over time The following is a schedule of selected accounts and dividends for a particular company from 206208. Required: If retained earnings is at a $66,000 credit balance at 1/1/x6, then determine retained earnings for 12/31/x6,12/31/7 and 12/31/8. Case \#7 - Using the accounting identity to build a framework for financial statements Hint: for any problem that invokes the accounting identity, you may use equations, but for a more visual framework consider the financial statements (e.g., balance sheet, income statement and statement of retained earnings/stockholders' equity) to which each piece of data applies. Consider each of the following problems independently: 1. Presented below is certain information pertaining to a corporation for the year 206. Required: (A) Solve for the missing values and (B) net income (loss) for 20x6. 2. The following is a randomized list of accounts after adjustments have been made at a particular company (all accounts are as of 12/31/6 unless otherwise stated): A. Determine Retained Earnings as of 12/31/6. B. Determine dividends paid to stockholders for the year. 4. Fill in the missing amounts given the following information regarding Watt Co