Comparative statements of retained earnings for Renn$-$Dever Corporation were as follows:

RENN$-$DEVER CORPORATION

Statements of Retained Earnings

For the Years Ended December $31$

$202620252024$

Balance at beginning of year $$6,786,452$ $$5,531,552$ $$5,684,552$

Net income $($loss$)3,248,7002,140,900(153,000)$

Deductions:

Stock dividend $(31,000$ shares$)217,000$

Common shares retired $(104,000$ shares$)208,000$

Common stock cash dividends $829,950678,0000$

Balance at end of year $$8,988,202$ $$6,786,452$ $$5,531,552$

At December $31,2023,$ common shares consisted of the following:

Common stock, $1,730,000$ shares at $$1$ par $ $1,730,000$

Paid$-$in capital$$excess of par $8,650,000$

Required:

Infer from the reports the events and transactions that affected Renn$-$Dever Corporation$$s retained earnings during $2024,2025,$ and $2026.$ 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.$)$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

$1.$Record transfer of net loss to retained earnings.

$2.$Record transfer of net income to retained earnings.

$3.$Record repurchase of shares for retirement.

$4.$Record declaration of cash dividend.

$5.$Record payment of cash dividend.

$6.$Record transfer of net income to retained earnings.

$7.$Record issue of stock dividend.

$8.$Record declaration of cash dividend.

$9.$Record payment of cash dividend