FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On December 31, 2023, Berclair Incorporated had 420 million shares of common stock and 7 million shares of 9%, $100 par value
cumulative preferred stock issued and outstanding.
On March 1, 2024, Berclair purchased 36 million shares of its common stock as treasury stock.
• Berclair issued a 5% common stock dividend on July 1, 2024.
Six million treasury shares were sold on October 1.
.Net income for the year ended December 31, 2024, was $700 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 4. Denominator
Earnings per Share
=
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Transcribed Image Text:On December 31, 2023, Berclair Incorporated had 420 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2024, Berclair purchased 36 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. Six million treasury shares were sold on October 1. .Net income for the year ended December 31, 2024, was $700 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 4. Denominator Earnings per Share =
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