For the year ended December 31, 2020, Ivanhoe Company reported the following: Net income Preferred dividends declared Common dividend declared Unrealized holding loss, AFS debt security Retained earnings Common stock Accumulated Other Comprehensive Income, $310000 49900 10700 5300 391000 210000

For the year ended December 31, 2020, Ivanhoe Company reported the following: Net income Preferred dividends declared Common dividend declared Unrealized holding loss, AFS debt security Retained earnings Common stock Accumulated Other Comprehensive Income, $310000 49900 10700 5300 391000 210000

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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Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2022, 2023, and 2024. RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2024 2023 2022 Balance at beginning of year $ 6,970,692 $ 5,584,452 $ 5,694,552 Net income (loss) 3,315,700 2,310,900 (110,100) Deductions: Stock dividend (35,400 shares) 249,000 Common shares retired, September 30 (140,000 shares) 219,660 Common stock cash dividends 896,950 705,000 0 Balance at end of year $ 9,140,442 $ 6,970,692 $ 5,584,452 At December 31, 2021, paid-in capital consisted of the following: Common stock, 1,910,000 shares at $1 par $ 1,910,000 Paid in capital—excess of par 7,490,000 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…
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