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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 $7,148,692 $5,658,452 $5,824,552 Net income (loss) 3,328,700 2,440,900 (166,100) Deductions: Stock dividend (42,000 shares) 262,000 Common shares retired, September 30 (130,000 shares) 232,660 Common stock cash dividends 909,950 718,000 0 Balance at end of year $9,305,442 $ 7,148,692 $5,658,452 At December 31, 2015, paid-in capital consisted of the following: Common stock, 2,230,000 shares at $1 par, Paid in capital-excess of par $2,230,000 7,620,000 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, 2016, 2017, and 2018. (Negative amounts should be indicated by a minus sign.) Year Numerator Denominator Earnings (Net Loss) per Share 2016 2017 / = 2018 1
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