input text align right table E19 16 class0 border collapse collapse td E19 16 class1 padding 0cm 6 0pt 0cm6 0pt td E19 16 class2 background D7DCE6 padding 0cm 0cm 0cm6 0pt td E19 16 class3 padding 0cm 0cm 0cm 6 0pt td E19 16 class4 padding 0cm 3 0pt 0cm 6 0pt td E19 16 class5 padding 0cm 6 0pt 0cm 1 5pt td E19 16 class6 background F7F7F7 border bottom solid 336699 1 0pt padding 0cm0cm 0cm 6 0pt td E19 16 class7 background F7F7F7 border bottom solid 336699 1 0pt padding 0cm3 0pt 0cm 6 0pt td E19 16 class8 background F7F7F7 padding 0cm6 0pt 0cm 1 5pt td E19 16 class9 border bottom solid 3366991 0pt padding 0cm 0cm 0cm 6 0pt td E19 16 class10 border bottom solid 336699 1 0pt padding 0cm 3 0pt 0cm 6 0pt table E19 16a class0 border collapse collapse td E19 16a class1 padding 0cm 5 4pt 0cm 5 4pt td E19 16a class2 border bottom solid windowtext 5pt padding 0cm 5 4pt 0cm 5 4pt td E19 16a class3 border right solid windowtext 5pt padding 0cm5 4pt 0cm 5 4pt td E19 16a class4 border top none border top solid windowtext 5pt border left none padding 0cm 5 4pt 0cm 5 4pt td E19 16a class5 border top none border right solid windowtext 5pt border left none padding 0cm 5 4pt 0cm 5 4pt Exercise 19 16 EPS stock dividend nonconvertiblepreferred stock treasury shares shares sold stock optionsexercised LO6 through LO8 On December 31, 2008, Berclair, Inc had 200million shares of common stock and 3 million shares of 9 , $100 parvalue cumulative preferred stock issued and outstanding Berclairissued a 5 common stock dividend on July 1, 2009 On March 1,2009, Berclair purchased 24 million shares of its common stock astreasury stock Four million treasury shares were sold on October1 Net income for the year ended December 31, 2009, was $150million Also outstanding atDecember 31 were incentive stock options granted to key executiveson September 13, 2004 The options are exercisable as of September13, 2008, for 30 million common shares at an exercise price of $56per share During 2009, the market price of the common sharesaveraged $70 per share, peaking at $80 on December 31 The options were exercised on September 1,2009 Required Compute Berclairs basic and diluted earningsper share for the year ended December 31, 2009 Round your answers totwo decimal places Omit the $ sign in yourresponse Basic earnings per share $ Diluted earnings per share $ Hint 1 Hint 2 Hint 3

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Exercise 19-16 EPS; stock dividend; nonconvertiblepreferred stock; treasury shares; shares sold; stock optionsexercised LO6 through LO8

On December 31, 2008, Berclair, Inc. had 200million shares of common stock and 3 million shares of 9%, $100 parvalue cumulative preferred stock issued and outstanding. Berclairissued a 5% common stock dividend on July 1, 2009. On March 1,2009, Berclair purchased 24 million shares of its common stock astreasury stock. Four million treasury shares were sold on October1. Net income for the year ended December 31, 2009, was $150million.
Also outstanding atDecember 31 were incentive stock options granted to key executiveson September 13, 2004. The options are exercisable as of September13, 2008, for 30 million common shares at an exercise price of $56per share. During 2009, the market price of the common sharesaveraged $70 per share, peaking at $80 on December 31.
The options were exercised on September 1,2009.

Required:
Compute Berclairs basic and diluted earningsper share for the year ended December 31, 2009.

Round your answers totwo decimal places. Omit the "$" sign in yourresponse.

Basic earnings per share	=	$

Diluted earnings per share	=	$

Hint 1 |Hint 2 |Hint 3

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