On December 31, 2020, Berclair Inc. had 280 million shares of common stock and 7 million...

 

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On December 31, 2020, Berclair Inc. had 280 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 48 million shares of its common stock as treasury stock Berclair issued a 5% common stock dividend on July 1, 2021. Eight million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $350 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2021. (Enter your answers in millions (.e., 10,000,000 should be entered as 10).) Numerator Denominator Earnings per Shate On December 31, 2020, Berclair Inc. had 280 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 48 million shares of its common stock as treasury stock Berclair issued a 5% common stock dividend on July 1, 2021. Eight million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $350 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2021. (Enter your answers in millions (.e., 10,000,000 should be entered as 10).) Numerator Denominator Earnings per Shate

Answer rating: 100% (QA)

Step 1 Note Time Factor is not applicable on Stock dividend Formulation 1 P... View the full answer