2019 $5,644,552 (150,000) Statements of Retained Earnings For the Years Ended December 31 2021 2020 Balance at beginning of year $6,737,452 $5,494,552 Net income (loss) 3,208,700 2,100,900 Deductions: Stock dividend (30,000 shares) 210,000 Common shares retired (100,000 shares) 200,000 Common stock cash dividends 809,950 658,000 Balance at end of year $8,926,202 $6,737,452 0 $5,494,552 At December 31, 2018, common shares consisted of the following: Common stock, 1,700,000 shares at $1 par Paid-in capital-excess of par $1,700,000 5,100,000 Required: Infer from the reports the events and transactions that affected Renn-Dever Corporation's retained earnings during 2019, 2020, and 2021. Prepare the journal entries that reflect those events and transactions. (Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.) (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 N 3 4 5 6 7 8 9 > Record transfer of net loss to retained earnings. Note: Enter debits before credits. General Journal Debit Credit Date 2019