At January 1, 2021, Heather Corporation had the following securities outstanding: 60 million common shares 40 million 2% cumulative preferred shares, $50 par 6.4% convertible bonds, $250 million face amount, convertible into 24 million common shares The following information is available: On September 1, 2021, Heather sold 4 million additional shares of common stock Incentive stock options to purchase 11 million shares of common stock after July 1, 2020, at $15 per share, were outstanding at the beginning and end of 2021. The average market price of Heather's common stock was $24 per share during 2021. Heather's net income for the year ended December 31, 2021, was $80.43 million. The effective income tax rate was 25%. Instructions: Answer each of the following questions by filling out the answer blanks below. There is one blank for each question. The answer for Question 1 goes in the first blank, for Question 2 in the second blank, and so on and so forth. Ensure that are rounded to two decimals. Do not include symbols (i.e. $) in numerical answers. Other specific instructions might be present in the question, so make sure that you follow those as well if they are present. Failure to follow these instructions will result in answers being marked incorrect. While most answers will be numerical, some may be alphanumerical, meaning that you will include words and/or numbers. 1. Calculate basic earnings per common share for the year ended December 31, 2021. 2. Calculate diluted earnings per common share for the year ended December 31, 2021. At January 1, 2021, Heather Corporation had the following securities outstanding: 60 million common shares 40 million 2% cumulative preferred shares, $50 par 6.4% convertible bonds, $250 million face amount, convertible into 24 million common shares The following information is available: On September 1, 2021, Heather sold 4 million additional shares of common stock Incentive stock options to purchase 11 million shares of common stock after July 1, 2020, at $15 per share, were outstanding at the beginning and end of 2021. The average market price of Heather's common stock was $24 per share during 2021. Heather's net income for the year ended December 31, 2021, was $80.43 million. The effective income tax rate was 25%. Instructions: Answer each of the following questions by filling out the answer blanks below. There is one blank for each question. The answer for Question 1 goes in the first blank, for Question 2 in the second blank, and so on and so forth. Ensure that are rounded to two decimals. Do not include symbols (i.e. $) in numerical answers. Other specific instructions might be present in the question, so make sure that you follow those as well if they are present. Failure to follow these instructions will result in answers being marked incorrect. While most answers will be numerical, some may be alphanumerical, meaning that you will include words and/or numbers. 1. Calculate basic earnings per common share for the year ended December 31, 2021. 2. Calculate diluted earnings per common share for the year ended December 31, 2021