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 $ 7,158,452 $ 5,807,552 $ 5,984,552

Net income (loss) 3,568,700 2,460,900 (177,000 )

Deductions:

Stock dividend (38,500 shares) 269,500

Common shares retired (136,000 shares) 272,000

Common stock cash dividends 979,950 838,000 0

Balance at end of year $ 9,477,702 $ 7,158,452 $ 5,807,552

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

Common stock, 1,955,000 shares at $1 par $ 1,955,000

Paid-in capitalexcess of par 9,775,000

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.)

ReferenceseBook & Resources