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: 600 million common shares 20 million 6% cumulative preferred shares, $50 par 8% convertible bonds, $2,000 million face amount, convertible into 80 million common shares The following additional information is available: . On September 1, 2018, Canaday sold 72 million additional shares of common stock. Incentive stock options to purchase 60 million shares of common stock after July 1, 2017, at $12 per share were outstanding at the beginning and end of 2018. The average market price of Canaday's common stock was $18 per share during 2018. . Canaday's net income for the year ended December 31, 2018, was $1,476 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 7 Denominator = Earnings per share Basic Diluted