Reference no: EM132719411
Question: At January 1, 2021, Canaday Corporation had outstanding the following securities:730 million common shares 20 million 5% cumulative preferred shares, $50 par 6.4% convertible bonds, $2,000 million face amount, convertible into 60 million common shares
The following additional information is available:
• On September 1, 2021, Canaday sold 84 million additional shares of common stock.
• Incentive stock options to purchase 50 million share 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 $25 per share during 2021.
• Canaday's net income for the year ended December 31, 2021, was $2,182 million. The effective income tax rate was 25%.
Required: 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))=.)
Basic: Numerator? / Denominator? = Earnings per share
Diluted: Numerator? / Denominator? = Earnings per share
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