Indicate by letter whether each of the transactions listed below increases $($I$),$ decreases $($D$),$ or has no effect $($N$)$ on retained earnings. Assume the shareholders' equity of the transacting company includes only common stock, paid$-$in capital$-$excess of par, and retained earnings at the time of each transaction.

Note: Some transactions have two possible answers. Choose the best choice from the drop down menu. The first answer is provided as an example.

$\backslash$table$[[$Transactions$,$N$],[1.$ Sale of common stock,$],[2.$ Purchase of treasury stock at a cost less than the original issue price,$],[3.$ Purchase of treasury stock at a cost greater than the original issue price,$],[4.$ Declaration of a property dividend,$],[5.$ Sale of treasury stock for more than cost,$],[6.$ Sale of treasury stock for less than cost,$],[7.$ Net income for the year,$],[8.$ Declaration of a cash dividend,$],[9.$ Payment of a previously declared cash dividend,$],[10.$ Issuance of convertible bonds for cash,$],[11.$ Declaration and distribution of a $5\%$ stock dividend,$],[12.$ Retirement of common stock at a cost less than the original issue price,$],[13.$ Retirement of common stock at a cost greater than the original issue price,$],[14.$ A stock split effected in the form of a stock dividend,$],[15.$ A stock split in which the par value per share is reduced $($not effected in the form of a stock dividend$),],[16.$ A net loss for the year,$]]$