Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2018 annual report as follows. RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2018 2017 2016 Balance at beginning of year Net income (loss) Deductions: $6,870,452 $ 5,605,552 3,348,700 2,220,900 5,764,552 (159,000) Stock dividend (33, 000 shares) Common shares retired (114,000 shares) Common stock cash dividends 231,000 228,000 728,000 $9,118,202 $ 6,870,452 869,950 Balance at end of year 5,605,552 At December 31, 2015, common shares consisted of the following: Common stock, 1,790,000 shares at $1 par Paid-in capital-excess of par 1,790,000 12,530,000 Required Infer from the reports the events and transactions that affected Renn-Dever Corporation's retained earnings during 2016, 2017, and 2018. Prepare the journal entries that reflect those events and transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete No General Journal Debit Credit 2016 Retained earnings 159,000 Income summary 159,000 2017 Income summary 2,220,900 Retained earnings 2.220.900 2017 Common stock Paid-in capital-excess of par Retained earnings Cash Retained earnings Cash dividends payable 2017 2017 Cash dividends payable Cash 2018 Income summary Retained eamings Retained eamings Common stock 2018 Paid-in capita-excess of par 2018 Retained earnings Cash dividends payable 2018 Cash dividends payable Cash