Question
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years...
Comparative Statements of Retained Earnings for Renn-Dever
Corporation were reported as follows for the fiscal years ending
December 31, 2019, 2020, and 2021.
| RENN-DEVER CORPORATION | ||||||||||
| Statements of Retained Earnings | For the Years Ended December 31 | |||||||||
| 2021 | 2020 | 2019 | ||||||||
| Balance at beginning of year | $ | 6,851,992 | $ | 5,497,752 | $ | 5,654,552 | ||||
| Net income (loss) | 3,311,700 | 2,270,900 | (156,800 | ) | ||||||
| Deductions: | ||||||||||
| Stock dividend (34,000 shares) | 245,000 | |||||||||
| Common shares retired, September 30 (130,000 shares) | 215,660 | |||||||||
| Common stock cash dividends | 892,950 | 701,000 | 0 | |||||||
| Balance at end of year | $ | 9,025,742 | $ | 6,851,992 | $ | 5,497,752 | ||||
At December 31, 2018, paid-in capital consisted of the
following:
| Common stock, 1,830,000 shares at $1 par | $ | 1,830,000 | |
| Paid in capital—excess of par | 7,450,000 | ||
No preferred stock or potential common shares were outstanding
during any of the periods shown.
Required:
Compute Renn-Dever’s earnings per share as it would have appeared
in income statements for the years ended December 31, 2019, 2020,
and 2021. (Negative amounts should be indicated by a minus
sign.)
|
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