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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 | $ | 7,094,292 | $ | 5,620,052 | $ | 5,804,552 | ||||
Net income (loss) | 3,326,700 | 2,420,900 | (184,500) | |||||||
Deductions: | ||||||||||
Stock dividend (61,500 shares) | 260,000 | |||||||||
Common shares retired, September 30 (140,000 shares) | 230,660 | |||||||||
Common stock cash dividends | 907,950 | 716,000 | 0 | |||||||
Balance at end of year | $ | 9,253,042 | $ | 7,094,292 | $ | 5,620,052 | ||||
At December 31, 2015, paid-in capital consisted of the following:
Common stock, 2,190,000 shares at $1 par, | $ | 2,190,000 | |
Paid in capitalexcess of par | 7,600,000 | ||
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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