E 19-18 EPS, stock dividend; (Note: This is a variation of E 19-16, modified to include the exercise of stock options.) On December 31, 2017, 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, 2018, Berclair purchased 24 million nonconvertible shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four preferred stock; million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $150 million treasury shares; Also outstanding at December 31 were 30 million incentive stock options granted to key executives on shares sold; stock September 13, 2013. The options were exercisable as of September 13, 2017, for 30 million common shares at options exercised an exercise price of $56 per share. During 2018, the market price of the common shares averaged $70 per share. L019-5 through The options were exercised on September 1, 2018. LO19-8 Required: Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2018