Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2009, 2010, and 2011.
At December 31, 2008, 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, 2009, 2010, and 2011.