McDonnell-Myer Corporation reported net income of $1,827 million. The company had 493 million common shares outstanding at January 1 and sold 42 million shares on Feb. 28. As part of an annual share repurchase plan, 9 million shares were retired on April 30 for $34 per share. Calculate McDonnell-Myer's earnings per share for the year. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Earnings per share On December 31, 2017, Berclair Inc. had 540 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 12 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Two million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $1,000 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Denominator Earnings per Share Numerator American Optical Corporation provides a variety of share-based compensation plans to its employees. Under its executive stock option plan, the company granted options on January 1, 2018, that permit executives to acquire 4 million of the company's $1 par common shares within the next five years, but not before December 31, 2019 (the vesting date). The exercise price is the market price of the shares on the date of grant, $14 per share. The fair value of the 4 million options, estimated by an appropriate option pricing model, is $3 per option. No forfeitures are anticipated. Ignore taxes. Required: 1. Determine the total compensation cost pertaining to the options. 2. to 4. Prepare the appropriate journal entries