Comparative Statements of Retained Earnings for Renn-Dever Corporation were repo

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 CORPORATION Statements of Retained Earnings For the Years Ended December 31 2018 2017 $6,878,292 $5,532,052 $5, 644,552 2016 Balance at beginning of year Net income (loss) Deductions: 3,310,700 2,260,900 (112,500) Stock dividend (50,700 shares) Common shares retired, September 30 (120,000 shares) Common stock cash dividends 244,000 214,660 700.000 891.950 Balance at end of vear $9,053,042 $6,878,292 $5,532,052 At December 31, 2015, paid-in capital consisted of the following: Common stock, 1,810,000 shares at $1 par Paid in capital-excess of par $1,810,000 7,440,000 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.) Earnings (Net Loss) Year NumeratorDenominator 2016 2017 2018 r Share

Explanation / Answer

Calculate earning per share :

Year Numerator / Denominator = Earning (net loss) per share 2016 -112500 / 1810000 = -0.06 2017 2260900 / 1690000 = 1.34 2018 3310700 / 1740700 = 1.90

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