Chapter 19, Problem 19.9P

EPS from statement of retained earnings

• LO19–4 through LO19–6

(Note: This problem is based on the same situation described in P 18–4 in Chapter 18, modified to focus on EPS rather than recording the events that affected retained earnings.)

Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2016, 2017, and 2018.

At December 31, 2015, paid-in capital consisted of the following:

Common stock, 1,855,000 shares at $1 par	$1,855,000
Paid in capital—excess of par	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 3l, 2016, 2017, and 2018.