At january 1, 2018, canaday corporation had outstanding the following securities:

690 million common shares

30 million 5% cumulative preferred shares, $50 par

6% convertible bonds, $3,000 million face amount, convertible into 60 million common shares

the following additional information is available:

on september 1, 2018, canaday sold 72 million additional shares of common stock.

incentive stock options to purchase 40 million shares of common stock after july 1, 2017, at $14 per share were outstanding at the beginning and end of 2018. the average market price of canaday’s common stock was $20 per share during 2018.

canaday's net income for the year ended december 31, 2018, was $1,512 million. the effective income tax rate was 40%.

required:
1. & 2. calculate basic and the diluted earnings per common share for the year ended december 31, 2018.