21 At January 1, 2021, Canaday Corporation had outstanding the following securities: 650 million common shares 20 million 6% cumulative preferred shares, $50 par 6.4% convertible bonds, $3,000 million face amount, convertible into 60 million common shares ints The following additional information is available: . On September 1, 2021, Canaday sold 69 million additional shares of common stock. • Incentive stock options to purchase 80 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 $16 per share during 2021. • Canaday's net income for the year ended December 31, 2021, was $1,974 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 share" answers to 2 decimal places. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Answer is complete but not entirely correct. Numerator 7 Denominator = Earnings per share Basic 673 $ 1,914 1 800 X 1 2.93 X 2.72 X Diluted $ 30 = $
