Return to question 1 5 points On December 31, 2020. Berclair Inc. hed 260 million shares of common stock and 3 million shares of 9%, $100 per value cumulative preferred stock issued and outstanding. On March 1, 2021. Bercisir purchased 24 million shares of its common stock as tressury 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 $220 million. The income tax rate is 25%. Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2016. The options are exercisable as of 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 everaged $70 per shere. In 2017. $50.0 million of 3% bonds, convertible into 6 million common shares were issued at foce value. Required: Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in millions (l.e., 10.000.000 should be entered as 10). Do not round Intermediate calculations.) Answer is complete but not entirely correct. Numerator Denominator Basic Diluted $ $ 140X1 204X! Earnings per Share 0.58 0.72 253 283X = $ S