FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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 $5,674, 552
2,290, 900
2021
2019
Balance at beginning of year
Net incone (loss)
Deductions:
Stock dividend (35,000 shares)
Common shares retired, September 30 (120, 000 shares).
Common stock cash dividends
Balance at end of year
3,313, 700
(150, 100)
247,000
217,660
703, 000
66,894, 692 45, 524, 452
894,950
$9,066, 442
At December 31, 2018, paid-in capital consisted of the following:
Common stock, 1,870,000 shares at 61 par
Paid in capital-exces of par
61,870,000
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.)
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Transcribed Image Text: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 $5,674, 552 2,290, 900 2021 2019 Balance at beginning of year Net incone (loss) Deductions: Stock dividend (35,000 shares) Common shares retired, September 30 (120, 000 shares). Common stock cash dividends Balance at end of year 3,313, 700 (150, 100) 247,000 217,660 703, 000 66,894, 692 45, 524, 452 894,950 $9,066, 442 At December 31, 2018, paid-in capital consisted of the following: Common stock, 1,870,000 shares at 61 par Paid in capital-exces of par 61,870,000 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.)
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