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 | $ | 7,063,292 | $ | 5,629,052 | $ | 5,754,552 | ||||
| Net income (loss) | 3,321,700 | 2,370,900 | (125,500 | ) | ||||||
| Deductions: | ||||||||||
| Stock dividend (59,100 shares) | 255,000 | |||||||||
| Common shares retired, September 30 (120,000 shares) | 225,660 | |||||||||
| Common stock cash dividends | 902,950 | 711,000 | 0 | |||||||
| Balance at end of year | $ | 9,227,042 | $ | 7,063,292 | $ | 5,629,052 | ||||
At December 31, 2018, paid-in capital consisted of the
following:
| Common stock, 2,090,000 shares at $1 par | $ | 2,090,000 | |
| Paid in capital—excess of par | 7,550,000 | ||
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.)
| 3321700 |
|
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