Hardev Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years endingDecember 31, 2022, 2023, and 2024.Statements of Retained EarningsBalance at beginning of yearNet income (loss)Deductions:Stock dividend (36,500 shares)Common shares retired, September 30 (125,000 shares)Common stock cash dividendsBalance at end of yearYear202220232024Numerator$ (101,200)At December 31, 2021, paid-in capital consisted of the following:Common stock, 1,950,000 shares at $1 parPaid in capital-excess of par$ 1,950,0007,510,000No preferred stock or potential common shares were outstanding during any of the periods shown.==RENN-DEVER CORPORATIONDenominatorRequired:Compute Renn-Dever's earnings per share as it would have appeared in income statements for the years ended December 31, 2022,2023, and 2024.Note: Negative amounts should be Indicated by a minus sign.1,950,000 = $==Earnings (Net Loss)per ShareFor the Years Ended December 312023$ 5,613,3522,330,900(0.05)02024$ 7,015,5923,317,7000251,000898,950$ 9,183,342221,660707,000$7,015,5922822$ 5,714,552(101,200)8$ 5,613,352

Earnings per share show the company's earnings from each share of stock used for estimating…

Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2022, 2023, and 2024. Statements of Retained Earnings Balance at beginning of year Net income (loss) Deductions: Stock dividend (36,500 shares) Common shares retired, September 30 (125,000 shares) Common stock cash dividends Balance at end of year At December 31, 2021, paid-in capital consisted of the following: Year 2022 2023 2024 Numerator $ (101,200) RENN-DEVER CORPORATION Common stock, 1,950,000 shares at $1 par $ 1,950,000 7,510,000 Paid in capital-excess of par No preferred stock or potential common shares were outstanding during any of the periods shown. = Denominator 1,950,000 = $ = Required: Compute Renn-Dever's earnings per share as it would have appeared in income statements for the years ended December 31, 2022, 2023, and 2024. Note: Negative amounts should be Indicated by a minus sign. = Earnings (Net Loss) per Share For the Years Ended December 31 2023 $5,613,352 2,330,900 (0.05) 0 2024 $ 7,015,592 3,317,700 0 251,000 898,950 $ 9,183,342 221,660 707,000 $ 7,015,592 2822 $ 5,714,552 (101,200) 8 $ 5,613,352

Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2022, 2023, and 2024. Statements of Retained Earnings Balance at beginning of year Net income (loss) Deductions: Stock dividend (36,500 shares) Common shares retired, September 30 (125,000 shares) Common stock cash dividends Balance at end of year At December 31, 2021, paid-in capital consisted of the following: Year 2022 2023 2024 Numerator $ (101,200) RENN-DEVER CORPORATION Common stock, 1,950,000 shares at $1 par $ 1,950,000 7,510,000 Paid in capital-excess of par No preferred stock or potential common shares were outstanding during any of the periods shown. = Denominator 1,950,000 = $ = Required: Compute Renn-Dever's earnings per share as it would have appeared in income statements for the years ended December 31, 2022, 2023, and 2024. Note: Negative amounts should be Indicated by a minus sign. = Earnings (Net Loss) per Share For the Years Ended December 31 2023 $5,613,352 2,330,900 (0.05) 0 2024 $ 7,015,592 3,317,700 0 251,000 898,950 $ 9,183,342 221,660 707,000 $ 7,015,592 2822 $ 5,714,552 (101,200) 8 $ 5,613,352

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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