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  1. business
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  3. on december 31, year 1, a company had 200 million

On December 31, Year 1, a company had 200 million shares of common stock and...

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Accounting

On December 31, Year 1, a company had 200 million shares of common stock and 3 million shares of 9%,$100 par value cumulative
preferred stock issued and outstanding.
On March 1, Year 2, the company purchased 24 million shares of its common stock as treasury stock.
The company issued a 5% common stock dividend on July 1, Year 2.
Four million treasury shares were sold on October 1.
Net income for the year ended December 31, Year 2, was $150 million.
Required:
Calculate the company's earnings per share for the year ended December 31, Year 2.
Note: Do not round intermediate calculations. Enter your answers in millions (i.e.,10,000,000 should be entered as 10).
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