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

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Accounting

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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 Balance at beginning of year Net income (loss) Deductions 2015 $7,084,952 $5,752,052 $5,924,552 3,508,700 2,400,900 (172,500) 2014 Stock dividend (37,000 shares) Common stock cash dividends Balance at end of year 259,000 shares retired (130,000 shares) 260,000 949,950808,000 $9,384,702 $7,084,952 $5,752,052 At December 31,2013, common shares consisted of the following Common stock, 1,910,000 shares at $1 par Paid-in capital-excess of par $1,910,000 9,550,000 Required: Infer from the reports the events and transactions that affected Renn-Dever Corporation's retained earnings during 2014, 2015, and 2016. Prepare the journal entries that reflect those events and transactions. (lf no entry is required for transaction/event, select "No joumal entry required" in the first account field.) View transaction list Journal entry worksheet 2 Record transfer of net loss to retained eaninos

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