Check 12 On December 31, 2020, Berclair Inc. had 240 milion shares of common stock and 5 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Bercial purchased 40 million shares of its common stock as treasury stock. Berchair issued a 5% common stock dividend on July 1, 2021. Four million treasury shares were sold on October 1. Net Income for the year ended December 31, 2021, was $250 million Also outstanding at December 31 were 30 million Incentive stock options granted to key executives on September 13, 2013. The options were exercisable as of September 13, 2020, for 30 million common shares at an exercise price of $56 per share. During 2021, 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, 2021. (Enter your answers in milfons (ie. 10,000,000 should be entered as 10). Do not round intermediate calculations.) Numerator Denominator Earings per Share Basic Diluted (Prey 12 of 15 Next >