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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Manji
Transcribed Image Text: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
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