On December 31, 2023, Berclair Incorporated had 500 million shares of common stock and 4 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 $900 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 500 million shares of common stock and 4 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 $900 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 500 million shares of
common stock and 4 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 $900
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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