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Nataliya [291]
3 years ago
15

On December 31, 2020, 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, 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 $150 million. Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2016. The options were exercisable 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. 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.)
Business
1 answer:
Colt1911 [192]3 years ago
8 0

Answer:

Earnings Per share = $0.83

Diluted Earnings per share = $0.71

Explanation:

Basic Earnings per share is how much each common stock share earns in profits and Diluted Earnings includes the options and bonds in its calculations for outstanding shares

formulas

Earnings Per share = (net income - Preferred stock dividends)/ outstanding number of shares

                              = $150/180

                              = $0.83

Diluted Earnings per share = (net income - Preferred stock dividends)/ outstanding number of shares

                                             = $150/210

                                             = $0.71

Outstanding number of shares  in millions

opening                                                       200

minus treasury stock                                 - 24

issued stock                                                 4

Basic outstanding shares                       = 180 shares

plus  share Options                                    30

Diluted shares                                           210

                 

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3 0
3 years ago
Cyber Security Systems had sales of 4,600 units at $65 per unit last year. The marketing manager projects a 30 percent increase
scoray [572]

Answer:

Net dollar sales projection for this year =   516,971.00

Explanation:

<em>Projected sales volume </em>

130%× 4,600= 5,980units

<em>Project selling price</em>

=140% × $65

= $91

<em>Total sales value </em>

= $91 × 5980units

=  $ 544,180.00

<em>Net dollar sales projection</em>

=  Total sales value -  Returned merchandise

= 544,180.00 - (5%  × 544,180.00 )

=  $ 516,971.00

Net dollar sales projection for this year =   516,971.00

3 0
3 years ago
Jim drops his car off at ABC Garage to have his exhaust system repaired and takes the train to work. When he returns, he finds t
TEA [102]

Answer: Direct Excess Coverage

Explanation:

The coverage type under ABC's garagekeepers policy that would split the cost of the loss with Jim's own insurer without placing blame on ABC Garage is the direct excess coverage.

This coverage is identical to the direct primary coverage and it basically protects the vehicle of a client without taking into consideration the person that is responsible. The direct excess coverage will be paid in excess of the primary policy.

6 0
2 years ago
In what way does the IDP promote an integrated approach to the planning of municipal service delivery for development
allochka39001 [22]

Integrated Development Planning is primarily based on community desires and priorities. Communities have the opportunity to take part in figuring out their maximum critical needs.

<h3>What is municipal included Development Planning?</h3>

An Integrated Development Plan is a notable plan for a place that offers a normal framework for improvement.

It targets to coordinate the activities of the neighborhood and different spheres of presidency in a coherent plan to improve the quality of life for all of the human beings dwelling in a place.

Thus, the IDP system encourages all stakeholders who are living and behavior enterprises inside a municipal location to take part withinside the training and implementation of the improvement plan.

learn more about  Integrated Development Plan here:

brainly.com/question/988326

#SPJ1

4 0
2 years ago
Acme Home Builders, Inc., has build 24 houses so far this year at a total cost to the company of $4.80 million. If the company b
Dmitry_Shevchenko [17]

Answer:

25th house's Marginal cost is $250,000.

Explanation:

Given:

Total cost of 24 houses = $4,800,000

Total cost of 25 houses = $5,050,000

Marginal cost = ?

Computation of marginal cost:

Marginal cost = Change in total cost

Marginal cost = Total cost of 25 houses - Total cost of 24 houses

Marginal cost = $5,050,000 - $4,800,000

Marginal cost = $250,000

So, we say that 25th house's marginal cost will be $250,000 .

5 0
3 years ago
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