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Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2018 annual report as...

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 $ 6,962,452 $ 5,659,552 $ 5,824,552 Net income (loss) 3,408,700 2,300,900 (165,000 ) Deductions: Stock dividend (34,500 shares) 241,500 Common shares retired (120,000 shares) 240,000 Common stock cash dividends 899,950 758,000 0 Balance at end of year $ 9,229,702 $ 6,962,452 $ 5,659,552 At December 31, 2015, common shares consisted of the following: Common stock, 1,835,000 shares at $1 par $ 1,835,000 Paid-in capital—excess of par 11,010,000 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.)

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