paresh On December 31, 2023, Berclair Incorporated had 500 million shares of common stock and 20 million shares of 9%, $100 par valuecumulative preferred stock issued and outstanding.. On March 1, 2024, Berclair purchased 60 million shares of its common stock as treasury stock.• Berclair issued a 6% 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 $1,000 million.• Also outstanding at December 31 were 81 million incentive stock options granted to key executives on September 13, 2019.• The options were exercisable as of September 13, 2023, for 81 million common shares at an exercise price of $50 per share.. During 2024, the market price of the common shares averaged $90 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 andconversion of convertible securities have been adjusted for any stock split or stock dividend.)Note: Do not round intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).BasicDilutedNumerator$$ 1,446860 XAnswer is complete but not entirely correct.Earnings per Share1.942.47Denominator444585

The average weighted number of common shares outstanding throughout the period is used to compute…

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 stock dividend.) Note: Do not round intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Basic Diluted Numerator 860 X 1,446 Answer is complete but not entirely correct. Denominator Earnings per Share 1.94 2.47 444 585 - $

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 stock dividend.) Note: Do not round intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Basic Diluted Numerator 860 X 1,446 Answer is complete but not entirely correct. Denominator Earnings per Share 1.94 2.47 444 585 - $

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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