On December 31, 2023, Berclair Incorporated had 540 million shares of common stock and 6 million shares of 9%, $100 par valuecumulative preferred stock issued and outstanding.. On March 1, 2024, Berclair purchased 12 million shares of its common stock as treasury stock.• Berclair issued a 5% common stock dividend on July 1, 2024.. Two million treasury shares were sold on October 1.• Net Income for the year ended December 31, 2024, was $1,000 million.Required:Compute Berclair's earnings per share for the year ended December 31, 2024.Note: Do not round intermediate calculations. Enter your answers in millions (.e., 10,000,000 should be entered as 10).$Numerator946+DenominatorEarnings per Share

>Earnings per share is calculated as Net Income available for common stockholders 'divided by'…

Answered: On December 31, 2023, Berclair…

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 560 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 24 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. • Four million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $950 million. • The income tax rate is 25%. • Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2019. • The options are exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share. . During 2024, the market price of the common shares averaged $70 per share. • In 2020, $50.0 million of 8% bonds, convertible into 6 million common shares, were issued at face value. Required: Compute Berclair's basic and diluted earnings per share for the year ended…
Question: On December 31, 2023, Berclair Incorporated had 280 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 24 million shares of its common stock as treasury stock. . . Berclair issued a 5% common stock dividend on July 1, 2024. Four million treasury shares were sold on October 1. . • Net income for the year ended December 31, 2024, was $250 million. The income tax rate is 25%. • • . Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2019. The options are exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share. During 2024, the market price of the common shares averaged $70 per share. • In 2020, $50.0 million of 8% bonds, convertible into 6 million common shares, were issued at face value. Required: Compute Berclair's basic and diluted earnings per share for the year…
On December 31, 2023, Berciair Incorporated had 280 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 56 million shares of its common stock as treasury stock. - Berclair issued a 5% common stock dividend on July 1, 2024, - Four million treasury shares were sold on October 1. - Net Income for the year ended December 31, 2024, was $350 million. • Also outstanding at December 31-were 30 million incentive stock options granted to key executives on September 13, 2019. - The options were exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share. - During 2024, the market price of the common shares averaged $70 per share. Required: Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024, (Shares for stock options and conversion of convertible securities have been adjusted for any stock split or…
On December 31, 2023, Berclair Incorporated had 400 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 60 million shares of its common stock as treasury stock. • Berclair issued a 4% common stock dividend on July 1, 2024. • Four million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $350 million. . Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2019 • The options were exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $35 per share. . During 2024, the market price of the common shares averaged $70 per share. • The options were exercised on September 1, 2024. Required: Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024. (Shares for stock options and conversion of convertible…
On December 31, 2020, Berclair Inc. had 500 million shares of common stock and 22 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 30 million shares of its common stock as treasury stock. Berclair issued a 4% common stock dividend on July 1, 2021. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $1,100 million. Also outstanding at December 31 were 72 million incentive stock options granted to key executives on September 13, 2016. The options were exercisable as of September 13, 2020, for 72 million common shares at an exercise price of $60 per share. During 2021, the market price of the common shares averaged $90 per share. The options were exercised on September 1, 2021. Required: Compute Berclair’s basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).…
On December 31, 2023, Ainsworth, Incorporated had 850 million shares of common stock outstanding. • Thirty four million shares of 6%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2024. On April 30, 2024, Ainsworth purchased 50 million shares of its common stock as treasury stock. • Twenty million treasury shares were sold on August 31. • Ainsworth issued a 4% common stock dividend on June 12, 2024. Required: 1. Compute Ainsworth's net loss per share for the year ended December 31, 2024. 2. Compute the per share amount of income or loss from continuing operations for the year ended December 31, 2024. 3. Prepare an EPS presentation that would be appropriate to appear on Ainsworth's 2024 and 2023 comparative income statements. Assume EPS was reported in 2023 as $0.70, based on net income (no discontinued operations) of $595 million and a weighted-average number of common shares of 850 million. • No cash dividends were declared in 2024. • For the year…
On December 31, 2020, Berclair Inc. had 420 million shares of common stock and 15 million shares of 9%, $100 par value cumulativepreferred stock issued and outstanding. On March 1, 2021, Berclair purchased 96 million shares of its common stock as treasury stockBerclair issued a 5% common stock dividend on July 1, 2021. Four million treasury shares were sold on October 1. Net income for theyear ended December 31, 2021, was $750 million.Also outstanding at December 31 were 63 million incentive stock options granted to key executives on September 13, 2016. Theoptions were exercisable as of September 13, 2020, for 63 million common shares at an exercise price of $60 per share. During 2021,the market price of the common shares averaged $70 per share.The options were exercised on September 1, 2021.Required:Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e.,10,000,000 should be entered as 10). Do not round…
On December 31, 2017 Berclair Inc. had 520 million shares of common stock and 3 million shares of 9%, 100 par value ccumulative preferred stock issued and outstanding. On march 1 2018 Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018 was 850 million. The income tax rate is 40% Also oustanding at December 31 were incentive stock options granted to key executives on September 13, 2013. Thee options are exercisable as of September 13, 2017 for 30 million common shares at an exercise price of $56 per share. During 2018, the market price of the common shares averaged $70 per share. In 2014, 62.5 million of 8% bonds, convertible into 6 million common shares, were issued at face value. Ccompute Berclair's basic and diluted earnings per sharefor the year ended December 31, 2018.
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On December 31, 2023, Ainsworth, Incorporated had 760 million shares of common stock outstanding. B Twenty nine million shares of 6%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2024. ⚫ On April 30, 2024, Ainsworth purchased 30 million shares of its common stock as treasury stock. • Twelve million treasury shares were sold on August 31. B Ainsworth issued a 5% common stock dividend on June 12, 2024. ■ No cash dividends were declared in 2024. . For the year ended December 31, 2024, Ainsworth reported a net loss of $185 million, including an after-tax loss from discontinued operations of $490 million. Required: 1. Compute Ainsworth's net loss per share for the year ended December 31, 2024. 2. Compute the per share amount of income or loss from continuing operations for the year ended December 31, 2024. 3. Prepare an EPS presentation that would be appropriate to appear on Ainsworth's 2024 and 2023 comparative income statements. Assume EPS was reported…
On December 31, 2023, Berclair Incorporated had 280 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 48 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2024. Eight million treasury shares were sold on October 1. Net income for the year ended December 31, 2024, was $350 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2024.
On December 31, 2023, Berclair Incorporated had 520 million shares of common stock and 5 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 $950 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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