Exercise 19-16 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold [LO19-5, 19-6, 19-7] On December 31, 2023, Berclair Incorporated had 540 million shares of common stock and 6 million shores of 9%, $100 par value cumulative preferred stock issued and outstanding. . On March 1, 2024, Berclair purchased 12 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. . Two million treasury shares were sold on October 1. • Net Income for the year ended December 31, 2024, was $1,000 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 S 946. Denominator = = Earnings per Share 0 A

Exercise 19-16 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold [LO19-5, 19-6, 19-7] On December 31, 2023, Berclair Incorporated had 540 million shares of common stock and 6 million shores of 9%, $100 par value cumulative preferred stock issued and outstanding. . On March 1, 2024, Berclair purchased 12 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. . Two million treasury shares were sold on October 1. • Net Income for the year ended December 31, 2024, was $1,000 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 S 946. Denominator = = Earnings per Share 0 A

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Exercise 19-17 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold; stock options [LO19-5, 19-6, 19-7, 19-8] On December 31, 2020, Berclair Inc. had 520 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 152 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $950 million. Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2013. The options were exercisable as of September 13, 2020, for 30 million common shares at an exercise price of $56 per share. During 2021, the market price of the common shares averaged $70 per share. Required: Compute Berclair's basic and diluted earnings per share for the year ended…
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Exercise 19-19 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold; stock options; convertible bonds [LO19-5,19-6, 19-7, 19-8, 19-9] On December 31, 2020, Berclair Inc. had 500 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $800 million. The income tax rate is 25%. Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2016. The options are exercisable as of September 13, 2020, for 30 million common shares at an exercise price of $56 per share. During 2021, the market price of the common shares averaged $70 per share. In 2017, $50.0 million of 8% bonds, convertible into…
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Pharoah corporation issued $117000 shares of $19 par value cumulative, 7% preferred stock on January 1,2021 for $2530000 in December 2023 pharoah declared its first dividend of $840000 if the preferred stock is not cumulative how much of the $840000 would be paid to common stockholders? Common stock dividends
Exercise 19-17 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares se stock options [LO19-5, 19-6, 19-7, 19-8) On December 31, 2023, Berciair Incorporated had 360 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding On March 1, 2024, Berclair purchased 88 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2024. * Four million treasury shares were sold on October 1 .Net income for the year ended December 31, 2024, was $550 million Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2019. • The options were exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share . During 2024, the market price of the common shares averaged $70 per share. Required: Compute Berclair's basic and diluted earnings per share for the year ended…
Problem 19-11 (Static) EPS; nonconvertible preferred stock; treasury shares; shares sold; stock dividend (LO19-4, 19-5, 19-6, 19-7] On December 31, 2020, Dow Steel Corporation had 600,000 shares of common stock and 300,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $400,000 and $75,000 to common and preferred shareholders, respectively, on December 15, 2021. On February 28, 2021, Dow sold 60,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31, 2021, was $2.100,000. The income tax rate is 25%. Required: Compute Dow's earnings per share for the year ended December 31, 2021. (Do not round Intermedlate calculations. Enter your answers in thousands. Round "Earnings per share" answer to 2 decimal places.) Numerator Denominator Earnings per share 2 of 3# Next > < Prev %3D
oblem Set i Saved Help Save & Exit S Exercise 19-16 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold [LO19-5, 19-6, 19-7 On December 31, 2023, Berclair Incorporated had 300 million shares of common stock and 8 million shares of 9%, $100 par value Cumulative preferred stock issued and outstanding. On March 1, 2024, Berclair purchased 54 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. • Nine million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $400 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 328 ÷ Denominator ÷ = Earnings per Share 271 = $ 1.21 Check my
Problem 19-17 (Static) EPS; options; convertible preferred; additional shares [LO19-4, 19-5, 19-6, 19-7, 19- 8, 19-9] On January 1, 2024, Jaewoo Industries had outstanding 440,000 common shares ($1 par) that originally sold for $20 per share, and 4,000 shares of 10% cumulative preferred stock ($100 par), convertible into 40,000 common shares. . On October 1, 2024, Jaewoo sold and issued an additional 16,000 shares of common stock at $33. • At December 31, 2024, there were 20,000 incentive stock options outstanding, issued in 2023, and exercisable after one year for 20,000 shares of common stock at an exercise price of $30. • The market price of the common stock at year-end was $48. . During the year, the price of the common shares had averaged $40. • Net income was $650,000. The tax rate for the year was 25%. Required: Compute basic and diluted EPS for the year ended December 31, 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in…