Question
In: Accounting
On December 31, 2017, Berclair Inc. had 540 million shares of common stock and 21 million...
On December 31, 2017, Berclair Inc. had 540 million shares of
common stock and 21 million shares of 9%, $100 par value cumulative
preferred stock issued and outstanding. On March 1, 2018, Berclair
purchased 24 million shares of its common stock as treasury stock.
Berclair issued a 5% common stock dividend on July 1, 2018. Four
million treasury shares were sold on October 1. Net income for the
year ended December 31, 2018, was $1,050 million.
Also outstanding at December 31 were 84 million incentive stock
options granted to key executives on September 13, 2013. The
options were exercisable as of September 13, 2017, for 84 million
common shares at an exercise price of $75 per share. During 2018,
the market price of the common shares averaged $100 per
share.
The options were exercised on September 1, 2018.
Required:
Compute Berclair’s basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
Solutions
ekkarill92 answered 2 years agoRelated Solutions
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On December 31, 2017, Berclair Inc. had 540 million shares of
common stock and 4 million shares of 9%, $100 par value cumulative
preferred stock issued and outstanding. On March 1, 2018, Berclair
purchased 24 million shares of its common stock as treasury stock.
Berclair issued a 5% common stock dividend on July 1, 2018. Four
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preferred stock issued and outstanding. On March 1, 2018, Berclair
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preferred stock issued and outstanding. On March 1, 2018, Berclair
purchased 24 million shares of its common stock as treasury stock.
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common stock and 3 million shares of 9%, $100 par value cumulative
preferred stock issued and outstanding. On March 1, 2018, Berclair
purchased 24 million shares of its common stock as treasury stock.
Berclair issued a 5% common stock dividend on July 1, 2018. Four
million treasury shares were sold on October 1. Net income for the
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shares of 9%, $100 par value cumulative preferred stock issued and
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stock dividend on July 1, 2018. Four million treasury shares were
sold on October 1. Net income for the year ended December 31, 2018,
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preferred stock issued and outstanding. On March 1, 2018, Berclair
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preferred stock issued and outstanding. On March 1, 2018, Berclair
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preferred stock issued and outstanding. On March 1, 2018, Berclair
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Berclair issued a 5% common stock dividend on July 1, 2018. Four
million treasury shares were sold on October 1. Net income for the
year ended December 31, 2018, was $350 million. The income tax rate...
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