Problem 19-9 (Static) EPS from statement of retained earnings [LO19-4, 19-5, 19-6]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 CORPORATIONStatements of Retained EarningsFor the Years Ended December 31202120202019Balance at beginning of yearNet income (loss)$6,794, 2923,308,700$5,464,0522,240,900$5,624,552(160,500)Deductions:Stock dividend (34,900 shares)Common shares retired, September 30 (110,000 shares)Common stock cash dividends242,000212,660698,000889,950Balance at end of year$8,971,042$6,794, 292$5,464,052At December 31, 2018, paid-in capital consisted of the following:$1,855,000Common stock, 1,855,000 shares at $1 parPaid in capital-excess of par7,420,000No 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.)Earnings (Net Loss)per ShareYearNumeratorDenominator201920202021

Name: Problem 19-9 (Static) EPS from statement of retained earnings [LO19-4
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Description: Problem 19-9 (Static) EPS from statement of retained earnings [LO19-4, 19-5, 19-6]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

Earnings per share is the ratio between net income and the outstanding number of shares. EPS = Net…

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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 For the Years Ended December 31 2019 Statements of Retained Earnings 2021 2020 Balance at beginning of year Net income (loss) $6,794, 292 $5,464,052 $5,624,552 (160,500) 3,308,700 2,240,900 Deductions: Stock dividend (34,900 shares) Common shares retired, September 30 (110,000 shares) Common stock cash dividends 242,000 212,660 889,950 698,000 Balance at end of year $8,971,042 ş6,794, 292 $5,464,052 At December 31, 2018, paid-in capital consisted of the following: Common stock, 1,855,000 shares at $1 par Paid in capital-excess of par $1,855,000 7,420,000 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.) Earnings (Net Loss) per Share Year Numerator Denominator 2019 2020 %3D 2021

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 For the Years Ended December 31 2019 Statements of Retained Earnings 2021 2020 Balance at beginning of year Net income (loss) $6,794, 292 $5,464,052 $5,624,552 (160,500) 3,308,700 2,240,900 Deductions: Stock dividend (34,900 shares) Common shares retired, September 30 (110,000 shares) Common stock cash dividends 242,000 212,660 889,950 698,000 Balance at end of year $8,971,042 ş6,794, 292 $5,464,052 At December 31, 2018, paid-in capital consisted of the following: Common stock, 1,855,000 shares at $1 par Paid in capital-excess of par $1,855,000 7,420,000 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.) Earnings (Net Loss) per Share Year Numerator Denominator 2019 2020 %3D 2021

Cornerstones of Financial Accounting

4th Edition

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Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 86PSA: Problem 10-86A Stock Dividends and Stock Splits Lance Products balance sheet includes total assets...

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