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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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oblem Set i
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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
Transcribed Image Text: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
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