Plymouth Company holds a 90% interest in Savannah, Inc., which was acquired in a previous...
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Plymouth Company holds a interest in Savannah, Inc., which was acquired in a previous year. As of the end of the current fiscal period, the following information is available: Plymouth Company $ Savannah Inc. $ Internally generated net income Weighted average common shares outstanding Warrants to acquire sub's common stock: Held by unaffiliated investors Warrants to acquire parent's common stock: Held by Savannah Held by unaffiliated investors Preferred shares convertible, par $ Preferred shares nonconvertible, par $ Additional information: The warrants to acquire Savannah stock were issued July of the current year. Exercise price is $; stock price is $ The warrants to acquire Plymouth stock were issued in a previous fiscal period. Exercise price is $; stock price is $ Each share of convertible preferred can be converted into shares of Savannah common stock. Plymouth owns of the convertible preferred stock. Required: Compute consolidated basic and diluted earnings per share for the current year. Ignore any tax effects.
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