RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 At December 31,...
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RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 At December 31, 2018, common shares consisted of the following: Common stock, 1,855,000 shares at $1 par $1,855,000 Paid-in capital-excess of par 7,420,000 Required: Infer from the reports the events and transactions that affected Renn-Dever Corporation's retained earnings during 2019, 2020 , and 2021. 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.)
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