Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help seeing if this is right On December 31, 2020, Berclair Inc had 560 million shares of common stock and 5 million shares

i need help seeing if this is right image text in transcribed
On December 31, 2020, Berclair Inc had 560 million shares of common stock and 5 million shares of 9% 5100 par value cumulative preferred stock issued and outstanding on March 1, 2021. Berclair purchased 168 million shares of its common stock as treasury stock Berclair 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 51.050 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 556 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 millionske 10,000,000 should be entered os 10). Do not round intermediate calculations.) 1 Base Diluted Numerator 5 1005 5 1005 Denominator 462 LUB Earnings per Share $ 227 $ 224

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

FINANCIAL & MANAGERIAL ACCOUNTING FOR DECISION MAKERS

Authors: Dyckman, Hanlon, Magee, Pfeiffer, Hartgraves, Morse

3rd Edition

1618532340, 9781618532343

More Books

Students also viewed these Accounting questions

Question

What are the steps for creating a sequence diagram?

Answered: 1 week ago

Question

What is the effect of word war second?

Answered: 1 week ago

Question

What are HR ethics?

Answered: 1 week ago

Question

What does corporate sustainability mean?

Answered: 1 week ago