ck; treasury shares; shares shares of 9%. $100 par value milion shares of its common illion treasury shares were sold or tax rate is 25% September 13, 2016. The options of $56 per share. During 2021, face value. 021. (Enter your answers in
ck; treasury shares; shares shares of 9%. $100 par value milion shares of its common illion treasury shares were sold or tax rate is 25% September 13, 2016. The options of $56 per share. During 2021, face value. 021. (Enter your answers in
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter11: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 11.4CP
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Question
![10:48 AT&T
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nonconvertible preferred stock; treasury shares; shares
19-5,19-6, 19-7, 19-8, 19-9]
Syllabus & Schedule - 2020
O Connect
8 https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Fnewcon 0 *
ares of common stock and 3 million shares of 9%, $100 par value
March 1, 2021, Berclair purchased 24 million shares of its common
tock dividend on July 1, 2021. Four million treasury shares were sold on
2021, was $850 million. The income tax rate is 25%.
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Chapter 19 Homework 1
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options granted to key executives on September 13, 2016. The options
common shares at an exercise price of $56 per share. During 2021,
er share
lion common shares, were issued at face value.
4.
Exercise 19-19 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares
sold; stock options; convertible bonds [LO19-5,19-6, 19-7, 19-8, 19-9]
for the year ended December 31, 2021. (Enter your answers in
not round intermediate calculetions.)
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 24 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 $850 million. The income tax rate is 25%.
Earnings per Share
padd
Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2016. The options
are exercisabie 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.
In 2017, $50.0 million of 8% bonds, convertible into 6 million common shares, were issued at face value.
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.)
sa
Next
Numerator
Denominator
Earnings per Share
Basic
%3D
Diluted
<Prev
4 of 4
Next](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc23ee739-9373-4ff1-9b65-1e44876ef0fd%2Fb258e3ae-0cc2-48d5-8666-a9b36cf8cfd0%2F90x4gwr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:10:48 AT&T
N N 5GE ul i
Try bartleby tuto
today
elp whenever you need from online
II
Check my work
C Sign In or Sign Up | Chegg.
nonconvertible preferred stock; treasury shares; shares
19-5,19-6, 19-7, 19-8, 19-9]
Syllabus & Schedule - 2020
O Connect
8 https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Fnewcon 0 *
ares of common stock and 3 million shares of 9%, $100 par value
March 1, 2021, Berclair purchased 24 million shares of its common
tock dividend on July 1, 2021. Four million treasury shares were sold on
2021, was $850 million. The income tax rate is 25%.
Help
Save & Exit
Submit
Chapter 19 Homework 1
panes
Check my work
options granted to key executives on September 13, 2016. The options
common shares at an exercise price of $56 per share. During 2021,
er share
lion common shares, were issued at face value.
4.
Exercise 19-19 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares
sold; stock options; convertible bonds [LO19-5,19-6, 19-7, 19-8, 19-9]
for the year ended December 31, 2021. (Enter your answers in
not round intermediate calculetions.)
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 24 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 $850 million. The income tax rate is 25%.
Earnings per Share
padd
Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2016. The options
are exercisabie 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.
In 2017, $50.0 million of 8% bonds, convertible into 6 million common shares, were issued at face value.
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.)
sa
Next
Numerator
Denominator
Earnings per Share
Basic
%3D
Diluted
<Prev
4 of 4
Next
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