The following additional information is available: - On September 1, 2024, M. E. Gainor sold 84 million additional shares of common stock. - Incentive stock options to purchase 60 million shares of common stock affifer July 1,2023, at $12 per share, were outstanding at the beginning and end of 2024 . The average market price of Gainor's common stock was $18 per share during 2024. - Gainor's net income for the year ended December 31, 2024, was $2,798 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 , 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places. - On September 1, 2024, M. E. Gainor sold 84 million additional shares of common stock. - Incentive stock options to purchase 60 million shares of common stock after July 1,2023 , at $12 per share, were outstanding at the beginning and end of 2024. The average market price of Gainor's common stock was \$18 per share during 2024. - Gainor's net income for the year ended December 31,2024 , was $2,798 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, 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places. The following additional information is available: - On September 1, 2024, M. E. Gainor sold 84 million additional shares of common stock. - Incentive stock options to purchase 60 million shares of common stock after July 1, 2023, at $12 per share, were outstanding at the beginning and end of 2024 . The average market price of Gainor's common stock was \$18 per share during 2024. - Gainor's net income for the year ended December 31, 2024, was $2,798 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, 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places. The following additional information is available: - On September 1, 2024, M. E. Gainor sold 84 million additional shares of common stock. - Incentive stock options to purchase 60 million shares of common stock affifer July 1,2023, at $12 per share, were outstanding at the beginning and end of 2024 . The average market price of Gainor's common stock was $18 per share during 2024. - Gainor's net income for the year ended December 31, 2024, was $2,798 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 , 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places. - On September 1, 2024, M. E. Gainor sold 84 million additional shares of common stock. - Incentive stock options to purchase 60 million shares of common stock after July 1,2023 , at $12 per share, were outstanding at the beginning and end of 2024. The average market price of Gainor's common stock was \$18 per share during 2024. - Gainor's net income for the year ended December 31,2024 , was $2,798 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, 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places. The following additional information is available: - On September 1, 2024, M. E. Gainor sold 84 million additional shares of common stock. - Incentive stock options to purchase 60 million shares of common stock after July 1, 2023, at $12 per share, were outstanding at the beginning and end of 2024 . The average market price of Gainor's common stock was \$18 per share during 2024. - Gainor's net income for the year ended December 31, 2024, was $2,798 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, 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places