Reference no: EM132756207
Question: 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 CORPORATIONStatements of Retained Earnings For the Years Ended December 31 2018 2017 2016 Balance at beginning of year$7,105,692 $5,663,452 $5,764,552 Net income (loss) 3,322,700 2,380,900 (101,100) Deductions: Stock dividend (39,800 shares) 256,000 Common shares retired, September 30 (120,000 shares) 226,660 Common stock cash dividends 903,950 712,000 0 Balance at end of year$9,268,442 $7,105,692 $5,663,452
At December 31, 2015, paid-in capital consisted of the following:
Common stock, 2,110,000 shares at $1 par,$2,110,000 Paid in capital-excess of par 7,560,000
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.)
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