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 Balance at beginning of year Net income (loss) Deductions: Stock dividend (30,500 shares) Common shares retired (102,000 shares) Common stock cash dividends Balance at end of year 2021 $6,761,952 2020 $5,513,052 2019 $5,664,552 3,228,700 2,120,900 (151,500) 213,500 204,000 819,950 668,000 $8,957,202 $6,761,952 $5,513,052 At December 31, 2018, common shares consisted of the following: Common stock, 1,715,000 shares at $1 par $1,715,000 Paid-in capital-excess of par 6,860,000 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 field.)