Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal...
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Accounting
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2011, 2012, and 2013.
RENN-DEVER CORPORATION
Statements of Retained Earnings
For the Years Ended December 31
2013
2012
2011
Balance at beginning of year
$
6,902,192
$
5,539,952
$
5,664,552
Net income (loss)
3,312,700
2,280,900
(124,600)
Deductions:
Stock dividend (50,700 shares)
246,000
Common shares retired, September 30 (160,000 shares)
216,660
Common stock cash dividends
893,950
702,000
0
Balance at end of year
$
9,074,942
$
6,902,192
$
5,539,952
At December 31, 2010, paid-in capital consisted of the following:
Common stock, 1,850,000 shares at $1 par,
$
1,850,000
Paid in capitalexcess of par
7,460,000
No preferred stock or potential common shares were outstanding during any of the periods shown.
Required:
Compute Renn-Devers earnings per share as it would have appeared in income statements for the years ended December 31, 2011, 2012, and 2013. (Do not round intermediate calculations and round your final answers to 2 decimal places.)
Amount
per share for the year ended Dec. 31, 2011
per share for the year ended Dec. 31, 2012
per share for the year ended Dec. 31, 2013
Answer & Explanation
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