HW Ch 19.2 (LO 19.4-11)

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 Canaday's 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