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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 | $ | 6,984,092 | $ | 5,565,852 | $ | 5,734,552 | ||||
Net income (loss) | 3,319,700 | 2,350,900 | (168,700 | ) | ||||||
Deductions: | ||||||||||
Stock dividend (38,000 shares) | 253,000 | |||||||||
Common shares retired, September 30 (150,000 shares) | 223,660 | |||||||||
Common stock cash dividends | 900,950 | 709,000 | 0 | |||||||
Balance at end of year | $ | 9,149,842 | $ | 6,984,092 | $ | 5,565,852 | ||||
At December 31, 2015, paid-in capital consisted of the following:
Common stock, 2,050,000 shares at $1 par, | $ | 2,050,000 | |
Paid in capitalexcess of par | 7,530,000 | ||
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.
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