On December 31, 2023, Berclair Incorporated 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, 2024, Berclair purchased 18 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. • Three million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $500 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 + Denominator = $ + = Earnings per Share
On December 31, 2023, Berclair Incorporated 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, 2024, Berclair purchased 18 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. • Three million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $500 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 + Denominator = $ + = Earnings per Share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On December 31, 2023, Berclair Incorporated 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, 2024, Berclair purchased 18 million shares of its common stock as treasury stock.
• Berclair issued a 5% common stock dividend on July 1, 2024.
• Three million treasury shares were sold on October 1.
• Net income for the year ended December 31, 2024, was $500 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
$
Denominator =
=
Earnings per Share
0
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