Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2021 annual report as follows. 2019 $5,684,552 (153,000) RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2021 2020 Balance at beginning of year $6,786,452 $5,531,552 Net income (loss) 3,248,700 2,140,900 Deductions: Stock dividend (31,000 shares) 217,000 Common shares retired (104,000 208,000 shares) Common stock cash dividends 829,950 678,000 Balance at end of year $ 8,988,202 $6,786,452 $5,531,552 At December 31, 2018, common shares consisted of the following: Common stock, 1,730,000 shares at $1 par Paid-in capital-excess of par $1,730,000 8,650,000 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.)