On December 31, 2015, Berclair Inc. had 260 million shares of common stock and 6...
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Accounting
On December 31, 2015, Berclair Inc. had 260 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2016, Berclair purchased 42 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2016. Seven million treasury shares were sold on October 1. Net income for the year ended December 31, 2016, was $300 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2016. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Numerator / Denominator = Earnings per Share
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