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

On December 31, 2020, Berclair Inc. had 400 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 30 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Five million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $650 million. Required:

Compute Berclair's earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

Numerator	/	Denominator	=	Earnings per Share
	/		=