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Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2011, 2012, and 2013. RENN-DEVER CORPORATION
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2011, 2012, and 2013. |
RENN-DEVER CORPORATION | |||||||||
Statements of Retained Earnings | |||||||||
For the Years Ended December 31 | 2013 | 2012 | 2011 | ||||||
Balance at beginning of year | $ | 7,131,692 | $ | 5,649,452 | $ | 5,814,552 | |||
Net income (loss) | 3,327,700 | 2,430,900 | (165,100) | ||||||
Deductions: | |||||||||
Stock dividend (41,200 shares) | 261,000 | ||||||||
Common shares retired, September 30 (150,000 shares) | 231,660 | ||||||||
Common stock cash dividends | 908,950 | 717,000 | 0 | ||||||
Balance at end of year | $ | 9,289,442 | $ | 7,131,692 | $ | 5,649,452 | |||
At December 31, 2010, paid-in capital consisted of the following: |
Common stock, 2,210,000 shares at $1 par, | $ | 2,210,000 | |
Paid in capitalexcess of par | 7,610,000 | ||
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, 2011, 2012, and 2013. (Do not round intermediate calculations and round your final answers to 2 decimal places.) |
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