Question
uestion Question 24 5 pts On December 31, 2015, Berclair Inc. had 260 million shares of common stock and 6 million shares of 9%, $100
uestion
Question 24 5 pts
On December 31, 2015, Berclair Inc. had 260 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2016, Berclair purchased 48 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2016. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2016, was $300 million
Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2011. The options were exercisable as of September 13, 2015, for 30 million common shares at an exercise price of $56 per share. During 2016, the market price of the common shares averaged $70 per share.
Compute Berclair's fully diluted earnings per share (EPS) for 2015 (enter answer to 2 decimal points)
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