As of December 31,

20112011,

JPMorgan ChaseJPMorgan Chase

& Co. was one of the largest banking institutions in the United States with

$ 2.3$2.3

trillion in assets,

$ 183.6$183.6

billion in stockholders' equity, and operations in more than 60 countries. For the year ended December 31,

20112011,

JPMorgan ChaseJPMorgan Chase

had net income of

$ 18 comma 976$18,976

million and paid preferred dividends of

$ 1 comma 408$1,408

million. An average of

3 comma 9003,900

million common shares were outstanding during the year.

Requirements

1.	Compute JPMorgan Chase's basic earnings per common share in 2011.
2.	Suppose all preferred stock was convertible into 336 million shares of common stock. Compute diluted earnings per common share.

Requirements 1 and 2. Determine the formula, then compute (1) JPMorgan Chase's EPS and (2) JPMorgan Chase's diluted EPS for each of the requirement scenarios. (Enter amounts in millions. For accounts with a $0 balance, make sure to enter "0" in the appropriate cell. Round your answers to the nearest cent.)

(

-

) /

=

EPS/ Diluted EPS

1.	(		-		) /		=
2.	(		-		) /		=