Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2016 annual report as follows.

RENN-DEVER CORPORATION

Statements of Retained Earnings

For the Years Ended December 31,

2016 2015 2014

Balance at beginning of year $6,794,292 $5,464,052 $5,624,552

Net income (loss) 3,308,700 2,240,900 (160,500)

Deductions:

Stock dividend (34,900 shares) 242,000

Common shares retired (110,000 shares) 212,660

Common stock cash dividends 889,950 698,000 0

Balance at end of year $8,971,042 $6,794,292 $5,464,052

At December 31, 2013, common shares consisted of the following:

Common stock, 1,855,000 shares at $1 par $1,855,000

Paid-in capitalexcess of par 7,420,000

Required: Infer from the reports the events and transactions that affected Renn-Dever Corporations retained earnings dur-ing 2014, 2015, and 2016. Prepare the journal entries that reflect those events and transactions.