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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 $6,820,292 $5,482,052 $5,634,552 Net income (loss) 3,309,700 2,250,900 (152,500) Deductions: Stock dividend (34,600 shares) 243,000 Common shares retired, September 30 (120,000 shares) 213,660 Common stock cash dividends 890,950 699,000 Balance at end of year $8,996,042 $6,820,292 $5,482,052 0 At December 31, 2018, paid-in capital consisted of the following: Common stock, 1,850,000 shares at $1 par Paid in capital-excess of par $1,850,000 7,430,000 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.) Year Numerator 1 Denominator Earnings (Net Loss) per Share $ (0.08) 2019 $ 1,850,000 2020 $ (152,500) 1 2,250,9001 3,309,700 / 0 2021 $ = 0
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