Problem 19-16 (Algo) EPS; convertible bonds; treasury shares [LO19-4, 19-5, 19-6, 19-9]

At December 31, 2021, the financial statements of Hollingsworth Industries included the following:

Net income for 2021	$	660	million
Bonds payable, 8%, convertible into 54 million shares of common stock	$	350	million
Common stock:
Shares outstanding on January 1		450	million
Treasury shares purchased for cash on September 1		48	million

Additional data: The bonds payable were issued at par in 2019. The tax rate for 2021 was 25%. Required: Compute basic and diluted EPS for the year ended December 31, 2021.

	Numerator	/	Denominator	=	Earnings per share
Basic		/		=
Diluted		/		=