,

Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2018 annual report as follows.

RENN-DEVER CORPORATION Statements of Retained Earnings
For the Years Ended December 31,	2018			2017			2016
Balance at beginning of year	$	6,761,952		$	5,513,052		$	5,664,552
Net income (loss)		3,228,700			2,120,900			(151,500	)
Deductions:
Stock dividend (30,500 shares)		213,500
Common shares retired (102,000 shares)					204,000
Common stock cash dividends		819,950			668,000			0
Balance at end of year	$	8,957,202		$	6,761,952		$	5,513,052

At December 31, 2015, common shares consisted of the following:

Common stock, 1,715,000 shares at $1 par	$	1,715,000
Paid-in capitalexcess of par		6,860,000

Required: Infer from the reports the events and transactions that affected Renn-Dever Corporations retained earnings during 2016, 2017, and 2018. 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.)