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At January 1, 2021, Canaday Corporation had outstanding the following securities: 720 million common shares 20 million 8% cumulative preferred shares, $50 par 6.4% convertible

At January 1, 2021, Canaday Corporation had outstanding the following securities: 720 million common shares 20 million 8% cumulative preferred shares, $50 par 6.4% convertible bonds, $4,500 million face amount, convertible into 90 million common shares The following additional information is available:

  • On September 1, 2021, Canaday sold 81 million additional shares of common stock.
  • Incentive stock options to purchase 40 million shares of common stock after July 1, 2020, at $14 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 $2,378 million. The effective income tax rate was 25%.

Basic 2298 / 747 = 3.08

Diluted ? / ? = ?

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