On december 31 2008 berclair inc had 200 million shares of, Ask an Expert

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On December 31, 2008, Berclair, Inc. had 200 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March1, 2009, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2009. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2009, was $150million.

Required: Compute Berclair's earnings per share for the year ended December 31, 2009.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9797596

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