On December 31, 2023, Berclair Incorporated had 480 million shares of common stock and 5 million...
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On December 31, 2023, Berclair Incorporated had 480 million shares of common stock and 5 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2024, Berclair purchased 136 million shares of its common stock as treasury stock. .Berclair issued a 5% common stock dividend on July 1, 2024. Four million treasury shares were sold on October 1. .Net income for the year ended December 31, 2024, was $850 million. . Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2019. The options were exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share. During 2024, the market price of the common shares averaged $70 per share. Required: Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024. (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 (i.e., 10,000,000 should be entered as 10). Numerator + Denominator Basic Diluted + + Earnings per Share = = On December 31, 2023, Berclair Incorporated had 480 million shares of common stock and 5 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2024, Berclair purchased 136 million shares of its common stock as treasury stock. .Berclair issued a 5% common stock dividend on July 1, 2024. Four million treasury shares were sold on October 1. .Net income for the year ended December 31, 2024, was $850 million. . Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2019. The options were exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share. During 2024, the market price of the common shares averaged $70 per share. Required: Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024. (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 (i.e., 10,000,000 should be entered as 10). Numerator + Denominator Basic Diluted + + Earnings per Share = =
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To compute Berclairs basic and diluted earnings per share EPS for the year ended December 31 2024 we need to calculate the numerator and denominator f... View the full answer
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