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  3. exercise 19-16 (algo) eps; stock dividend; nonconv

Exercise 19-16 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold [L019-5, 19-6,...

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Exercise 19-16 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold [L019-5, 19-6, 19-7] On December 31, 2020, Berclair Inc. had 320 million shares of common stock and 9 million shares of 9% $100 par value cumulative preferred stock issued and outstanding on March 1, 2021. Berclair purchased 60 million shares of its common stock as treasury stock Berclair issued a 5% common stock dividend on July 1, 2021. Ten million treasury shares were sold on October 1. Net income for the year ended December 31, 2021. was $450 million Required: Compute Berclair's earnings per share for the year ended December 31, 2021 (Enter your answers in millions (ie. 10,000,000 should be entered as 10).) Numarator Denominator Earnings per Share

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