At January 1, 2021, Canaday Corporation had outstanding the following securities: 610 million common shares 20 million 6% cumulative preferred shares, $50 par 6.4% convertible bonds, $2,500 million face amount, convertible into 60 million common shares The following additional information is available:

• On September 1, 2021, Canaday sold 72 million additional shares of common stock.
• Incentive stock options to purchase 50 million shares of common stock after July 1, 2020, at $10 per share, were outstanding at the beginning and end of 2021. The average market price of Canadays common stock was $20 per share during 2021.
• Canaday's net income for the year ended December 31, 2021, was $1,576 million. The effective income tax rate was 25%.

Required: 1. & 2. Calculate basic and the diluted earnings per common share for the year ended December 31, 2021. (Round "Earnings per share" answers to 2 decimal places. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

ANSWER:

. Numerator / Denominator / Earnings per share

Basic _______ __________ ________________

Diluted _______ __________ ________________