Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years endingDecember 31, 2019, 2020, and 2021.RENN-DEVER CORPORATIONStatenents of Retained EarningsFor the Years Ended Decenber 31202066,894,692 45,524, 452 $5,674, 5522,290, 90020212019Balance at beginning of yearNet incone (loss)Deductions:Stock dividend (35,000 shares)Common shares retired, September 30 (120, 000 shares).Common stock cash dividendsBalance at end of year3,313, 700(150, 100)247,000217,660703, 00066,894, 692 45, 524, 452894,950$9,066, 442At December 31, 2018, paid-in capital consisted of the following:Common stock, 1,870,000 shares at 61 parPaid in capital-exces of par61,870,0007,470, 000No 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, 2019,2020, and 2021. (Negative amounts should be indicated by a minus sign.)

Earning per share can be calculated by dividing net income by total outstanding shares.

Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2019, 2020, and 2021. RENN-DEVER CORPORATION Statenents of Retained Earnings For the Years Ended Decenber 31 2020 66,894,692 45,524,452 65,674,552 2,290, 900 2021 2019 Balance at beginning oft year Net incone (loss) Deductions: Stock dividend (35,000 shares) Common shares retired, September 30 (120,000 shares). Common stock cash dividends 3, 313, 700 (150, 100) 247,000 217,660 703, 000 69,066,442 66,894,692 45, 524, 452 894, 950 Balance at end of year At December 31, 2018, paid-in capital consisted of the following Common stock, 1,870,000 shares at $1 par Paid in capital-exceas of par 41,870, 000 7,470,000 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, 2019, 2020, and 2021. (Negative amounts should be indicated by a minus sign.)

Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2019, 2020, and 2021. RENN-DEVER CORPORATION Statenents of Retained Earnings For the Years Ended Decenber 31 2020 66,894,692 45,524,452 65,674,552 2,290, 900 2021 2019 Balance at beginning oft year Net incone (loss) Deductions: Stock dividend (35,000 shares) Common shares retired, September 30 (120,000 shares). Common stock cash dividends 3, 313, 700 (150, 100) 247,000 217,660 703, 000 69,066,442 66,894,692 45, 524, 452 894, 950 Balance at end of year At December 31, 2018, paid-in capital consisted of the following Common stock, 1,870,000 shares at $1 par Paid in capital-exceas of par 41,870, 000 7,470,000 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, 2019, 2020, and 2021. (Negative amounts should be indicated by a minus sign.)

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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