On December 31 2012 Berclair Inc had 200 million shares
On December 31, 2012, Berclair Inc. had 200 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2013, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2013. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2013, was $150 million.

Required:
Compute Berclair’s earnings per share for the year ended December 31, 2013.

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