Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on december 31, 2020, berclair inc. had 520 millio

On December 31, 2020, Berclair Inc. had 520 million shares of common stock and 3...

90.2K

Verified Solution

Question

Accounting

On December 31, 2020, Berclair Inc. had 520 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 152 million shares of its common stock as treasury 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 $950 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, 2020, for 30 million common shares at an exercise price of $56 per share. During 2021, 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, 2021. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Do not round intermediate calculations.))

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Payroll. Ontario and Québec.Aside from a termination pay that must be paid upon terminationwhat...Payroll....

Physics
1.2K views

Describe : * Rutherford's Experiment and the discovery of the atomic Nucleus * Radioactivity * Geiger Counters * describe Radioactive...

Biology
1.2K views

hypothalamus loss of body temperature control dehydration loss of fine motor control sleep disturbances Question...

Geometry
1.2K views

Find the value of x and all missing angles Then classify the triangle by the...

Calculus
1.2K views

7 Use the laws of logarithms to evaluate log3 243

Accounting
1.2K views

At the beginning of 2017, Sunland Company acquired a mine for $818,000. Of this amount,...

Accounting
1.2K views

Jack Company leased an asset to Jill Company on January 1, 2015. Jill Company is...

Accounting
1.2K views

Peavey Enterprises purchased a depreciable asset for $26,000 on April 1, Year 1. The asset...

Accounting
1.2K views

The Central Division for Chemical Company has a return on investment of 26% and an...

Finance
1.2K views

You are considering the following two mutually exclusive projects. The required return on each project...

Finance
1.2K views

YBMs stock price S is $102 today. After six months, the stock price can...

Accounting
1.2K views

A restaurant has an average check of $12.95, with an average variable cost of $5.44....