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On December 31, 2023, Berclair Incorporated had 420 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. . On March 1, 2024, Berclair purchased 36 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. . Six million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $700 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 420 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. . On March 1, 2024, Berclair purchased 36 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. . Six million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $700 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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On December 31, 2023, Berclair Incorporated had 420 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. . On March 1, 2024, Berclair purchased 36 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. . Six million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $700 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
Transcribed Image Text:On December 31, 2023, Berclair Incorporated had 420 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. . On March 1, 2024, Berclair purchased 36 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. . Six million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $700 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
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