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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 | $ | 6,851,992 | $ | 5,497,752 | $ | 5,654,552 | ||||
Net income (loss) | 3,311,700 | 2,270,900 | (156,800 | ) | ||||||
Deductions: | ||||||||||
Stock dividend (34,000 shares) | 245,000 | |||||||||
Common shares retired, September 30 (130,000 shares) | 215,660 | |||||||||
Common stock cash dividends | 892,950 | 701,000 | 0 | |||||||
Balance at end of year | $ | 9,025,742 | $ | 6,851,992 | $ | 5,497,752 | ||||
At December 31, 2015, paid-in capital consisted of the following:
Common stock, 1,830,000 shares at $1 par, | $ | 1,830,000 | |
Paid in capitalexcess of par | 7,450,000 | ||
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, 2016, 2017, and 2018. (Negative amounts should be indicated by a minus sign.)
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