F28. Exercise 19-17 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold;stock options [LO19-5, 19-6, 19-7, 19-8]On December 31, 2023, Berclair Incorporated had 600 million shares of common stock and 7 million shares of 9%, $100 par valuecumulative preferred stock issued and outstanding.. On March 1, 2024, Berclair purchased 184 million shares of its common stock as treasury stock.• Berclair issued a 5% common stock dividend on July 1, 2024.• Four million treasury shares were sold on October 1.• Net income for the year ended December 31, 2024, was $1,150 million.. Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2019.The options were exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share.. During 2024, 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, 2024. (Shares for stock options andconversion of convertible securities have been adjusted for any stock split or stock dividend.)Note: Do not round intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).BasicDilutedNumeratorDenominator W Earnings per Share=

1. Basic EPS (Net income - preferred dividends) ÷ weighted average of common shares outstanding…

Answered: Compute Berclair's basic and diluted…

Cornerstones of Financial Accounting

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Chapter10: Stockholder's Equity

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Problem 67E: Cash Dividends on Common and Preferred Stock Lemon Inc. has the following information regarding its...

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Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024. (Shares for stock options and conversion of convertible securities have been adjusted for any stock split or stock dividend.)