eck my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question bn December 31, 2020, Berclair Inc. had 250 million share common stock and 11 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berciair purchased 60 million shares of its common stock as treasury stock. Berclair issued a 6% 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 $550 million Also outstanding at December 31 were 54 million incentive stock options granted to key executives on September 13, 2016. The options were exercisable as of September 13, 2020, for 54 million common shares at an exercise price of $50 per share. During 2021, the market price of the common shares averaged $75 per share. The options were exercised on September 1, 2021. Required: Compute Berciair's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in millions (.e., 10,000,000 should be entered as 10). Do not round intermediate calculations.) Answer is complete but not entirely correct. Numerator Denominator = Earnings per Share S 4511 211 = $ 2.14 $ 4511 2 33 = $ 1.94 Basic Diluted