At January 1, 2021, Canaday Corporation had outstanding the following securities:770 million common shares20 million 6% cumulative preferred shares, $50 par6.4% convertible bonds, $3,500 million face amount, convertible into 60 million common shares?he following additional information is available:On September 1, 2021, Canaday sold 84 million additional shares of common stock.Incentive stock options to purchase 60 million shares of common stock after July 1, 2020, at $12 per share, were outstanding at the beginning and end of 2021. The average market price of Canaday’s common stock was $18 per share during 2021.Canaday’s net income for the year ended December 31, 2021, was $2,798 million. The effective income tax rate was 25%.?equired:1. & 2.?alculate 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).)AccountingBusinessFinancial AccountingACC 423
