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 0
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 0
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
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Rahul
![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
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe6513624-a20e-4f8e-a042-02b4c742b98b%2F51be8e60-819b-4746-9812-40048e079b6b%2Fe5po83j_processed.jpeg&w=3840&q=75)
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
0
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