On December 31, 2023, Berclair Incorporated had 200 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 24 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 $150 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). > Answer is complete but not entirely correct. Numerator ÷ $ 123 ÷ Denominator Earnings per Share 185 = $ 0.66
On December 31, 2023, Berclair Incorporated had 200 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 24 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 $150 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). > Answer is complete but not entirely correct. Numerator ÷ $ 123 ÷ Denominator Earnings per Share 185 = $ 0.66
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 10MC
Related questions
Question
100%
$123 | Numerator |
185.4 | Denominator |
$0.66 | EPS |
![On December 31, 2023, Berclair Incorporated had 200 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 24 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 $150 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).
> Answer is complete but not entirely correct.
Numerator
÷
$
123
÷
Denominator
Earnings per
Share
185
=
$
0.66](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F54e8c682-be67-4ef0-bd1d-cf8b2e543b76%2Fd3cff902-50a3-4f0d-bf77-6299ff3d4c1e%2Fsha5es5_processed.png&w=3840&q=75)
Transcribed Image Text:On December 31, 2023, Berclair Incorporated had 200 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 24 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 $150 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).
> Answer is complete but not entirely correct.
Numerator
÷
$
123
÷
Denominator
Earnings per
Share
185
=
$
0.66
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