During 2021, its first year of operations, McCollum Tool Works entered into the following to shareholders' equity. The corporation was authorized to issue 100 million common shares following transactions relating ommon shares, $1 par per share -12 Jan. 2 Issued 35 million common shares for cash. 3 Entered an agreement with the company president to issue up to 2 million additional of common stock in 2022 based on the earnings of McCollum in 2022. If net income $140 million, the president will receive 1 million shares; 2 million shares if net income exceed b $150 million. Mar. 31 Issued 4 million shares in exchange for plant facilities. Net income for 2021 was $148 million. Required: Compute basic and diluted earnings per share for the year ended December 31, 2021