On December 31, 2023, Berclair Incorporated had 400 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2024, Berclair purchased 30 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. Five million treasury shares were sold on October 1. . Net income for the year ended December 31, 2024, was $650 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 (1.e., 10,000,000 should be entered as 10). Denominator = Earnings per Share Numerator
On December 31, 2023, Berclair Incorporated had 400 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2024, Berclair purchased 30 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. Five million treasury shares were sold on October 1. . Net income for the year ended December 31, 2024, was $650 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 (1.e., 10,000,000 should be entered as 10). Denominator = Earnings per Share Numerator
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 400 million shares of common stock and 6 million shares of 9%, $100 par value
cumulative preferred stock issued and outstanding.
. On March 1, 2024. Berclair purchased 30 million shares of its common stock as treasury stock.
Berclair issued a 5% common stock dividend on July 1, 2024.
• Five million treasury shares were sold on October 1.
• Net income for the year ended December 31, 2024, was $650 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 (l.e., 10,000,000 should be entered as 10).
Numerator → Denominator = Earnings per Share
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