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

Numerator	/	Denominator	=	Earnings per Share
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