First check with the state to find out how often a shareholder meeting is required, yes even if there in one shareholder.  That meeting must be recorded on paper, and it is where the shareholders vote on issuing a distribution of profit.

If that is to be done, the total amount is moved from retained earnings to an account called distribution payable (you will have to create it the first time, a liability account).  Then on the date of distribution checks are written for the amount to each shareholder and you use the distribution payable account as the expense (reason) for the check