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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
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 capitalexcess of par | 7,550,000 | ||
No preferred stock or potential common shares were outstanding during any of the periods shown. Required: Compute Renn-Devers earnings per share as it would have appeared in income statements for the years ended December 31, 2019, 2020, and 2021.
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