Pop Corporation owns an 80 percent interest in Son Corporation. Throughout 2016, Pop had 20,000 shares of common stock outstanding. Son had the following securities outstanding:
€¢ 10,000 shares of common stock
€¢ Options to purchase 2,000 shares of Son Corporation common at $15 per share
€¢ 1,000 shares of 10%, $100 par, convertible, preferred stock that are convertible into 3,000 shares of Son common stock Income data for the affiliates for 2016 are as follows:

REQUIRED:
Compute basic and diluted earnings per share for Pop Corporation and Subsidiary for 2016, assuming an average market price for Son Corporation common stock of $30 per share.

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Pop Son Separate incomes Income from Son ($45,000 income to 120,000 55,000 common x 80%)-$6,000 patent amortization 30,000- $150,000$55,000