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 $ 7,133,952 $ 5,789,052 $ 5,964,552 Net income (loss) 3,548,700 2,440,900 (175,500 ) Deductions: Stock dividend (38,000 shares) 266,000 Common shares retired (134,000 shares) 268,000 Common stock cash dividends 969,950 828,000 0 Balance at end of year $ 9,446,702 $ 7,133,952 $ 5,789,052 At December 31, 2015, common shares consisted of the following: Common stock, 1,940,000 shares at $1 par $ 1,940,000 Paid-in capitalexcess of par 11,640,000