Problem 19-18 EPS; stock options; nonconvertible preferred; convertible bonds; shares sold [LO19-4, 19- 5, 19-6, 19-7, 19-8, 19-9) At January 1, 2018, Canaday Corporation had outstanding the following securities: 700 million common shares 35 million 8% cumulative preferred shares, $50 par 4% convertible bonds, $3,500 million face amount, convertible into 70 million common shares The following additional information is available: . On September 1, 2018, Canaday sold 75 million additional shares of common stock. Incentive stock options to purchase 50 million shares of common stock after July 1, 2017, at $10 per share were outstanding at the beginning and end of 2018. The average market price of Canaday's common stock was $20 per share during 2018. Canaday's net income for the year ended December 31, 2018, was $1,516 million. The effective income tax rate was 40%. Required: 1. & 2. Calculate basic and the diluted earnings per common share for the year ended December 31, 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Numerator 1 Denominator Earnings per share 1 = Basic Diluted 1