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Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2016, 2017, and 2018. RENN-DEVER CORPORATION
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2016, 2017, and 2018. RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2018 2017 2016 Balance at beginning of year $7,159,192 $5,692,952 $5,794,552 Net income (loss) 3,325,700 2,410,900 (101,600) Deductions: Stock dividend (41,000 shares) 259,000 Common shares retired, September 30 (120,000 shares) 229,660 Common stock cash dividends 906,950 715,000 0 Balance at end of year $9,318,942 $7,159,192 $5,692,952 At December 31, 2015, paid-in capital consisted of the following: Common stock, 2,170,000 shares at $1 par, Paid in capital-excess of par $2,170,000 7,590,000 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, 2016, 2017, and 2018. (Negative amounts should be indicated by a minus sign.) 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, 2016, 2017, and 2018. (Negative amounts should be indicated by a minus sign.) Year Earnings (Net Loss) Numerator Denominator per Share 2016 / = 2017 2018
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