At January 1, 2018, Canaday Corporation had outstanding the following securities: 780 million common shares 40 million 8% cumulative preferred shares, $50 par 5% convertible bonds, $2,500 million face amount, convertible into 70 million common shares The following additional information is available On September 1, 2018, Canaday sold 72 million additional shares of common stock. Incentive stock options to purchase 40 million shares of common stock after July 1, 2017, at $14 per share were outstanding at the beginning and end of 2018. The average market price of Canaday's common stock was $20 per share during 2018 . Canaday's net income for the year ended December 31, 2018, was $1,548 million. The effective income tax rate was 40%. Required 1. & 2. Calculate basic and the diluted earnings per common share for the year ended December 31, 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Numerator DenominatorEarnings per share Basic Diluted 1,004/ 902$ 1.11