Problem 19-9 EPS from statement of retained earnings [LO19-4, 19-5, 19-6] Compar

Question

Problem 19-9 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 ending December 31, 2014, 2015, and 2016.

Compute Renn-Dever’s earnings per share as it would have appeared in income statements for the years ended December 31, 2014, 2015, and 2016. (Negative amounts should be indicated by a minus sign.)

Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2014, 2015, and 2016.

Explanation / Answer

Loss per share for the year ended Dec. 31, 2013

1

Loss per share for the year ended Dec. 31, 2013

(184,500)/ 2,190,000 net income/no. of shares -0.08 2 Earnings per share for the year ended Dec. 31, 2014 2,420,900/((2190000-(140000*3/12)) 2,420,900/2155000 1.12 3 Earnings per share for the year ended Dec. 31, 2015 3,326,700/(2190000-140000)*1.03 1.67 2190000-140000 =2050000 (61,500)/2050000 = 3%

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