Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2021 annual report as follows. 2019 $5,724,552 (156,000) RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2021 2020 Balance at beginning of year $6,825,452 $5,568,552 Net income (loss) 3,288,700 2,180,900 Deductions: Stock dividend (32,000 shares) 224,000 Common shares retired (108,000 shares) 216,000 Common stock cash dividends 849,950 708,000 Balance at end of year $9,040,202 $6,825,452 0 $5,568,552 At December 31, 2018, common shares consisted of the following: Common stock, 1,760,000 shares at $1 par Paid-in capital-excess of par $ 1,760,000 12,320,000 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.)