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Problem 19-10 (Algo) EPS from statement of shareholders' equity (L019-4, 19-5, 19-6] Comparative Statements of Shareholders' Equity for Locke Intertechnology Corporation were reported as follows
Problem 19-10 (Algo) EPS from statement of shareholders' equity (L019-4, 19-5, 19-6] 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 $ 1,902 LOCKE INTERTECHNOLOGY CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2019, 2020, and 2021 ($ in millions) Preferred Common Additional Stock, Stock, Paid-in $10 par $1 par Capital Balance at January 1, 2019 $ 45 $ 555 Sale of preferred shares 10 530 Sale of common shares, 7/1 9 86 Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2019 10 54 1,171 Retirement of common shares, 4/1 (8) (41) Cash dividend, preferred Cash dividend, common 3-for-2 split effected in the form of a common stock dividend, 8/12 23.0 (23.0) Net income Balance at December 31, 2020 10 69.0 1, 107.0 10% common stock dividend, 5/1 6.90 90 Sale of common shares, 9/1 3 32 Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2021 $10 $78.90 $1,229.0 (1) (14) 360 2,247 (26) (1) (18) Total Shareholders' Equity $2,502 540 95 (1) (14) 360 3,482 (75) (1) (18) 460 2,662 (96.90) 460 3,848 (5) (34) 436 $2,962.10 *534 35 (5) (34) 436 $4,280 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 1 Denominator Earnings per share 0 0 2019 = 2020 2021 1 1 = 0
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