On December 31, 2020, Berclair, Inc. had 200 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding On March 1, 2021, Berclair purchased 24 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 $150 million. Also outstanding at December 31 were 30 Million incentive stock options granted to key executives on September 13, 2020, for 30 million common shares at an exercise price of $56 per share. During 2021 the market price of the common shares averaged $70 per share. The options were exercised on September 1, 2021 Required Compute Berclairs basic and diluted earnings per share for the year ended December 31, 2021