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Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2022, 2023, and 2024. Statements of
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2022, 2023, and 2024.
Statements of Retained Earnings | For the Years Ended December 31 | ||
---|---|---|---|
2024 | 2023 | 2022 | |
RENN-DEVER CORPORATION | |||
Balance at beginning of year | $ 7,022,292 | $ 5,612,052 | $ 5,724,552 |
Net income (loss) | 3,318,700 | 2,340,900 | (112,500) |
Deductions: | |||
Stock dividend (55,800 shares) | 252,000 | ||
Common shares retired, September 30 (110,000 shares) | 222,660 | ||
Common stock cash dividends | 899,950 | 708,000 | 0 |
Balance at end of year | $ 9,189,042 | $ 7,022,292 | $ 5,612,052 |
At December 31, 2021, paid-in capital consisted of the following:
Common stock, 1,970,000 shares at $1 par | $ 1,970,000 |
---|---|
Paid in capitalexcess of par | 7,520,000 |
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, 2022, 2023, and 2024.
Note: Negative amounts should be indicated by a minus sign.
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