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On December 31, 2020, Berclair Inc. had 340 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 18 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Three million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $500 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e., 10,000,0 00

On December 31, 2020, Berclair Inc. had 340 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 18 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Three million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $500 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e., 10,000,0 00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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On December 31, 2020, Berclair Inc. had 340 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 18 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Three million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $500 million.

 

Required: Compute Berclair's earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e., 10,000,0

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