On December 31, 2023, Berclair Incorporated had 320 million shares of common stock and 9 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2024, Berclair purchased 60 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2024. Ten million treasury shares were sold on October 1. Net income for the year ended December 31, 2024, was $450 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Numerator Denominator Earnings per Share
On December 31, 2023, Berclair Incorporated had 320 million shares of common stock and 9 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2024, Berclair purchased 60 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2024. Ten million treasury shares were sold on October 1. Net income for the year ended December 31, 2024, was $450 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Numerator Denominator Earnings per Share
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 10MC
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