9.

value: 1.50 points

Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2016 annual report as follows.

RENN-DEVER CORPORATION Statements of Retained Earnings
For the Years Ended December 31,	2016			2015			2014
Balance at beginning of year	$	6,937,952		$	5,641,052		$	5,804,552
Net income (loss)		3,388,700			2,280,900			(163,500	)
Deductions:
Stock dividend (34,000 shares)		238,000
Common shares retired (118,000 shares)					236,000
Common stock cash dividends		889,950			748,000			0
Balance at end of year	$	9,198,702		$	6,937,952		$	5,641,052

At December 31, 2013, common shares consisted of the following:

Common stock, 1,820,000 shares at $1 par	$	1,820,000
Paid-in capitalexcess of par		9,100,000

Required:

Infer from the reports the events and transactions that affected Renn-Dever Corporations retained earnings during 2014, 2015, and 2016. Prepare the journal entries that reflect those events and transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)