Question

On December 31, 2015, Berclair Inc. had 460 million shares of common stock and 9 million...

On December 31, 2015, Berclair Inc. had 460 million shares of common stock and 9 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2016, Berclair purchased 48 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2016. Eight million treasury shares were sold on October 1. Net income for the year ended December 31, 2016, was $800 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).)
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