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	$	7,207,452		$	5,844,552		$	6,024,552
Net income (loss)		3,608,700			2,500,900			(180,000	)
Deductions:
Stock dividend (39,500 shares)		276,500
Common shares retired (140,000 shares)					280,000
Common stock cash dividends		999,950			858,000			0
Balance at end of year	$	9,539,702		$	7,207,452		$	5,844,552

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

Common stock, 1,985,000 shares at $1 par	$	1,985,000
Paid-in capitalexcess of par		9,925,000

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.)

• Record transfer of net loss to retained earnings.
• Record transfer of net income to retained earnings.
• Record repurchase of shares for retirement.
• Record declaration of cash dividend.
• Record payment of cash dividend.
• Record transfer of net income to retained earnings.
• Record issue of stock dividend.
• Record declaration of cash dividend.
• Record payment of cash dividend.