On December 3 1 , 2 0 2 3 , Berclair Incorporated had 5 4 0 million shares of common stock and 2 1 million shares of 9 , $ 1 0 0 par value cumulative preferred stock issued and outstanding On March 1 , 2 0 2 4 , Berclair purchased 2 4 million shares of its common stock as treasury stock Berclair issued a 5 common stock dividend on July 1 , 2 0 2 4 Four million treasury shares were sold on October 1 Net income for the year ended December 3 1 , 2 0 2 4 , was $ 1 , 0 5 0 million Also outstanding at December 3 1 were 8 4 million incentive stock options granted to key executives on September 1 3 , 2 0 1 9 The options were exercisable as of September 1 3 , 2 0 2 3 , for 8 4 million common shares at an exercise price of $ 7 5 per share During 2 0 2 4 , the market price of the common shares averaged $ 1 0 0 per share The options were exercised on September 1 , 2 0 2 4 Required Compute Berclair's basic and diluted earnings per share for the year ended December 3 1 , 2 0 2 4 ( Shares for stock options and conversion of convertible securities have been adjusted for any stock split or stock dividend ) Note Do not round intermediate calculations Enter your answers in millions ( i e , 1 0 , 0 0 0 , 0 0 0 should be entered as 1 0 ) On December 3 1 , 2 0 2 3 , Berclair Incorporated had 5 4 0 million shares of common stock and 2 1 million shares of 9 , $ 1 0 0 par value cumulative preferred stock issued and outstanding On March 1 , 2 0 2 4 , Berclair purchased 2 4 million shares of its common stock as treasury stock Berclair issued a 5 common stock dividend on July 1 , 2 0 2 4 Four million treasury shares were sold on October 1 Net income for the year ended December 3 1 , 2 0 2 4 , was $ 1 , 0 5 0 million Also outstanding at December 3 1 were 8 4 million incentive stock options granted to key executives on September 1 3 , 2 0 1 9 The options were exercisable as of September 1 3 , 2 0 2 3 , for 8 4 million common shares at an exercise price of $ 7 5 per share During 2 0 2 4 , the market price of the common shares averaged $ 1 0 0 per share The options were exercised on September 1 , 2 0 2 4 Required Compute Berclair's basic and diluted earnings per share for the year ended December 3 1 , 2 0 2 4 ( Shares for stock options and conversion of convertible securities have been adjusted for any stock split or stock dividend )

Question

On December 3 1 , 2 0 2 3 , Berclair Incorporated had 5 4 0 million shares of common stock and 2 1 million shares of 9   , $ 1 0 0 par value cumulative preferred stock issued and outstanding  On March 1 , 2 0 2 4 , Berclair purchased 2 4 million shares of its common stock as treasury stock  Berclair issued a 5   common stock dividend on July 1 , 2 0 2 4   Four million treasury shares were sold on October 1   Net income for the year ended December 3 1 , 2 0 2 4 , was $ 1 , 0 5 0 million  Also outstanding at December 3 1 were 8 4 million incentive stock options granted to key executives on September 1 3 , 2 0 1 9   The options were exercisable as of September 1 3 , 2 0 2 3 , for 8 4 million common shares at an exercise price of $ 7 5 per share  During 2 0 2 4 , the market price of the common shares averaged $ 1 0 0 per share  The options were exercised on September 1 , 2 0 2 4   Required  Compute Berclair's basic and diluted earnings per share for the year ended December 3 1 , 2 0 2 4   ( Shares for stock options and conversion of convertible securities have been adjusted for any stock split or stock dividend  ) Note  Do not round intermediate calculations  Enter your answers in millions ( i   e   , 1 0 , 0 0 0 , 0 0 0 should be entered as 1 0 )   On December 3 1 , 2 0 2 3 , Berclair Incorporated had 5 4 0 million shares of common stock and 2 1 million shares of 9   , $ 1 0 0 par value cumulative preferred stock issued and outstanding  On March 1 , 2 0 2 4 , Berclair purchased 2 4 million shares of its common stock as treasury stock  Berclair issued a 5   common stock dividend on July 1 , 2 0 2 4   Four million treasury shares were sold on October 1   Net income for the year ended December 3 1 , 2 0 2 4 , was $ 1 , 0 5 0 million  Also outstanding at December 3 1 were 8 4 million incentive stock options granted to key executives on September 1 3 , 2 0 1 9   The options were exercisable as of September 1 3 , 2 0 2 3 , for 8 4 million common shares at an exercise price of $ 7 5 per share  During 2 0 2 4 , the market price of the common shares averaged $ 1 0 0 per share  The options were exercised on September 1 , 2 0 2 4   Required  Compute Berclair's basic and diluted earnings per share for the year ended December 3 1 , 2 0 2 4   ( Shares for stock options and conversion of convertible securities have been adjusted for any stock split or stock dividend  )

Accepted Answer

The Answer is in the image, click to view ...

Question

On December 3 1 , 2 0 2 3 , Berclair Incorporated had 5 4 0 million shares of common stock and 2 1 million

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Cost Accounting Planning And Control

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question