On December Berclair Incorporated had million shares of common stock and million shares of $ par value cumulative preferred stock issued and outstanding.

On March Berclair purchased million shares of its common stock as treasury stock.

Berclair issued a common stock dividend on July

Four million treasury shares were sold on October

Net income for the year ended December was $ million.

Also outstanding at December were million incentive stock options granted to key executives on September

The options were exercisable as of September for million common shares at an exercise price of $ per share.

During the market price of the common shares averaged $ per share.

The options were exercised on September

Required:

Compute Berclairs basic and diluted earnings per share for the year ended December 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 ie should be entered as

Answer rating: 100% (QA)

To calculate the basic and diluted earnings per share EPS for Berclair Incorporated we need to follo... View the full answer