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			2020			2019
Balance at beginning of year	$	7,109,452		$	5,770,552		$	5,944,552
Net income (loss)		3,528,700			2,420,900			(174,000	)
Deductions:
Stock dividend (37,500 shares)		262,500
Common shares retired (132,000 shares)					264,000
Common stock cash dividends		959,950			818,000			0
Balance at end of year	$	9,415,702		$	7,109,452		$	5,770,552

At December 31, 2018, common shares consisted of the following:

Common stock, 1,925,000 shares at $1 par	$	1,925,000
Paid-in capitalexcess of par		11,550,000

Required: Infer from the reports the events and transactions that affected Renn-Dever Corporations 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.)

• 1

  Record transfer of net loss to retained earnings.

• 2

  Record transfer of net income to retained earnings.

• 3

  Record repurchase of shares for retirement.

• 4

  Record declaration of cash dividend.

• 5

  Record payment of cash dividend.

• 6

  Record transfer of net income to retained earnings.

• 7

  Record issue of stock dividend.

• 8

  Record declaration of cash dividend.

• 9

  Record payment of cash dividend.