Please help me solve this accounting problem (E19-14) immediatey. Thanks. EPS: s

Question

Please help me solve this accounting problem (E19-14) immediatey. Thanks.

EPS: stock dividend; nonconvertible preferred stock; treasury shares; shares sold On December 31, 2010, 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 March 1, 2011, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2011. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2011, was $150 million. Compute Berclair's earnings per share for the year ended December 31, 2011.

Explanation / Answer

Earning per share = Net income / No. of shares = $ 150/200 = $0.75

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