Question
In: Accounting
On December 31, 2017, Berclair Inc. had 280 million shares of common stock and 3 million...
On December 31, 2017,
Berclair Inc. had 280 million shares of common stock and 3 million
shares of 9%, $100 par value cumulative preferred stock issued and
outstanding. On March 1, 2018, Berclair purchased 56 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 $350 million.
Also outstanding at December 31 were 30 million incentive stock
options granted to key executives on September 13, 2013. The
options were exercisable as of September 13, 2017, for 30 million
common shares at an exercise price of $56 per share. During 2018,
the market price of the common shares averaged $70 per share.
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).)
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ekkarill92 answered 2 years agoRelated Solutions
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