Exercise 19-16 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold [LO19-5, 19-6, 19-7]

On December 31, 2023, Berclair Incorporated had 580 million shares of common stock and 8 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding.

On March 1, 2024, Berclair purchased 30 million shares of its common stock as treasury stock.

Berclair issued a 5% common stock dividend on July 1, 2024.

Five million treasury shares were sold on October 1.

Net income for the year ended December 31, 2024, was $1,100 million.

Required:

Compute Berclair's earnings per share for the year ended December 31, 2024.

Note: Do not round intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).

Numerator	Denominator	Earnings per share