On December 31, 2017, Berclair Inc. had 340 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock Issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock Berclair issued a 5% common stock dividend on July 1, 2018 Four million treasury shares were sold on October 1. Net Income for the year ended December 31, 2018, was $400 million. The income tax rate is 40% Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2013. The options are exercisable as of September 13, 2017. for 30 million common shares at an exercise price of $56 per share. During 2018, the market. price of the common shares averaged $70 per share. In 2014, $62.5 million of 8% bonds, convertible into 6 million common shares, were issued at face value. Required: Compute Berciair's basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in millions (.e. 10,000,000 should be entered as 10).) Basic EPS Oiluted EPS Numerator Denominator Earnings per Share

On December 31, 2017, Berclair Inc. had 340 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock Issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock Berclair issued a 5% common stock dividend on July 1, 2018 Four million treasury shares were sold on October 1. Net Income for the year ended December 31, 2018, was $400 million. The income tax rate is 40% Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2013. The options are exercisable as of September 13, 2017. for 30 million common shares at an exercise price of $56 per share. During 2018, the market. price of the common shares averaged $70 per share. In 2014, $62.5 million of 8% bonds, convertible into 6 million common shares, were issued at face value. Required: Compute Berciair's basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in millions (.e. 10,000,000 should be entered as 10).) Basic EPS Oiluted EPS Numerator Denominator Earnings per Share

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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