At January 1, 2021, Canaday Corporation had outstanding the following securities:720 million common shares20 million 8% cumulative preferred shares, $50 par6.4% convertible bonds, $4,500 million face amount, convertible into 90 million common sharesThe following additional information is available:• On September 1, 2021, Canaday sold 81 million additional shares of common stock.• Incentive stock options to purchase 40 million shares of common stock after July 1, 2020, at $14 per share, were outstanding atthe beginning and end of 2021. The average market price of Canaday's common stock was $20 per share during 2021.• Canaday's net income for the year ended December 31, 2021, was $2,378 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 pershare" answers to 2 decimal places. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)NumeratorDenominatorEarnings per shareBasicDiluted

Earnings per share are the earnings of the company that is held in hands of the each shareholder of…

At January 1, 2021, Canaday Corporation had outstanding the following securities: 720 million common shares 20 million 8% cumulative preferred shares, $50 par 6.4% convertible bonds, $4,500 million face amount, convertible into 90 million common shares

At January 1, 2021, Canaday Corporation had outstanding the following securities: 720 million common shares 20 million 8% cumulative preferred shares, $50 par 6.4% convertible bonds, $4,500 million face amount, convertible into 90 million common shares

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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