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Comparative statements of retained earnings for Renn-Dever Corporation were as follows: At December...

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Accounting

Comparative statements of retained earnings for Renn-Dever Corporation were as follows:
At December 31,2023, common shares consisted of the following:
Common stock, 1,955,000 shares at $1 par
Paid-in capital-excess of par
$1,955,000
9,775,000
Required:
Infer from the reports the events and transactions that affected Renn-Dever Corporation's retained earnings during 2024,2025, and 2026. Prepare the journal entries that reflect those events and transactions. (Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.)
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
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