Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2021 annual report as follows. RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2021 Balance at beginning of year $7,109,452 Net income (loss) 3,528,700 Deductions: Stock dividend (37,500 shares) 262,500 Common shares retired (132, eee shares) Common stock cash dividends 959,95 Balance at end of year $9,415,702 2020 $5,770,552 2,420,900 2019 $5,944,552 (174,60e) 264, wee 818, mee $7,199,452 $5,770,552 At December 31, 2018, common shares consisted of the following: Common stock, 1,925,280 shares at $1 par Paid-in capital-excess of par $ 1,925,000 11,550, eee 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 fleld.) View transaction list Journal entry worksheet Record transfer of net income to retained earnings. Note: Enter debits before credits. Date General Journal Debit Credit 2020 Record entry Clear entry View general journal Journal entry worksheet Record payment of cash dividend. Note: Enter debits before credits. Date General Journal Debit Credit 2020 Record entry Clear entry View general journal Journal entry worksheet Record transfer of net income to retained earnings. Note: Enter debits before credits. Date General Journal Debit Credit 2021 Record entry Clear entry View general journal Journal entry worksheet Record issue of stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit 2021 Record entry Clear entry View general journal Journal entry worksheet Record declaration of cash dividend. Note: Enter debits before credits. Date General Journal Debit Credit 2021 Record entry Clear entry View general journal Journal entry worksheet Record payment of cash dividend. Note: Enter debits before credits. Date General Journal Debit Credit 2021 Record entry Clear entry View general journal