Crystal Corporation owns 60 percent of Evans Company's common shares. Balance sheet data for the companies on December 31, 20X2, are as follows:

The bonds of Crystal Corporation and Evans Company pay annual interest of 8 percent and 10 percent, respectively. Crystal's bonds are not convertible. Evans' bonds can be converted into 10,000 shares of its company stock any time after January 1, 20X1. An income tax rate of 40 percent is applicable to both companies. Evans reports net income of $30,000 for 20X2 and pays dividends of $15,000. Crystal reports income from its separate operations of $45,000 and pays dividends of $25,000.

Required
Compute basic and diluted EPS for the consolidated entity for20X2.

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Crystal Corporation 85,000 80,000 120,000 700,000 (240,000) 150,000 $895.000 Evans Company $30,000 50,000 100,000 400,000 (80,000) Cash Inventory Buildings & Equipment Less: Accumulated Depreciation Investment in Evans Company Stock Total Assets $500,000 Accounts Payable Bonds Payable Common Stock ($10 par value) Retained Earnings Total Liabilities & Owners Equity $145,000 250,000 300,000 200,000 $895,000 50,000 200,000 100,000 150,000 $500,000