16)

Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2021:

Common shares outstanding throughout the year		100	million
Convertible preferred shares (convertible into 40 million shares of common)		50	million
Convertible 8% bonds (convertible into 16.0 million shares of common)	$	1,400	million

Henderson-Niless net income for the year ended December 31, 2021, is $710 million. The income tax rate is 25%. Henderson-Niles paid dividends of $4 per share on its preferred stock during 2021. Required: Compute 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). Round "Earnings per share" answers to 2 decimal places.)

	Numerator	/	Denominator	=	Earnings per share
Basic		/		=
Diluted		/		=