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, 2017 $ 6,870,452 $ 5,605,552 5,764,552 2018 2016 Balance at beginning of year Net income (loss) Deductions: 3,348,700 2,220,900 (159,000) Stock dividend (33,000 shares) Common shares retired (114,000 shares) Common stock cash dividends 231,000 228,000 728,000 869,950 0 $ 9,118,202 $ 6,870,452 5,605,552 Balance at end of year At December 31, 2015, common shares consisted of the following Common stock, 1,790,000 shares at $1 par 1,790,000 Paid-in capital-excess of par 12,530,000 Required Infer from the reports the events and transactions that affected Renn-Dever Corporation's 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.) View transaction list Journal entry worksheet Record transfer of net loss to retained earnings Note: Enter debits before credits Date General Journal Debit Credit 2016 Record entry Clear entry View general journal