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Comparative Statements of Shareholders' Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2019, 2020, and 2021. Retained
Comparative Statements of Shareholders' Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2019, 2020, and 2021. Retained Earnings S 1,892 Total Shareholders' Equity $2,502 492 92 LOCKE INTERTECHNOLOGY CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2019, 2020, and 2021 (s in millions) Preferred Common Additional Stock, Stock, Paid-in $10 par Si par Capital Balance at January 1, 2019 S 80 S 530 Sale of preferred shares 12 480 Sale of common shares, 7/1 11 81 Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2019 12 91 1,091 Retirement of common shares, 4/1 (4) (36) Cash dividend, preferred Cash dividend, common 3-for-2 split effected in the form of a common stock dividend, 8/12 43.5 (43.5) Net income Balance at December 31, 2020 12 130.5 1,011.5 10% common stock dividend, 5/1 13.05 130 Sale of common shares, 9/1 3 38 Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2021 $12 $146.55 $1,179.5 (18) 310 2, 180 (21) (18) 310 3,374 (61) (4) (22) ) (22) 410 2,543 (143.05) 410 3,697 (3) (29) 426 $2,793.95 41 (3) (29) 426 $ 4,132 Required: Infer from the statements the events and transactions that affected Locke Intertechnology Corporation's shareholders' equity and compute earnings per share as it would have appeared on the income statements for the years ended December 31, 2019, 2020, and 2021. No potential common shares were outstanding during any of the periods shown. (Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50).) Year Numerator / Denominator Earnings per share 1 = 2019 2020 2021 = 1 1 =
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