Crystal Corporation owns 60 percent of the common shares of Evans Company. 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. The bonds of Crystal Corporation are not convertible. The bonds of Evans Company can be converted into 10,000 shares of Evans Company stock anytime after January 1, 20X1. A federal income tax rate of 40 percent is applicable to both companies. Evans Company reports net income of \(\$ 30,000\) for \(20 \mathrm{X} 2\) and pays dividends of \(\$ 15,000\), while Crystal Corporation reports income from its separate operations of \(\$ 45,000\) and pays dividends of \(\$ 25,000\).
\section*{Required}
Compute basic and diluted earnings per share for the consolidated entity for \(20 \mathrm{X} 2\).

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Crystal Corporation Cash $ 85,000 Accounts Receivable 80,000 Inventory 120,000 Evans Company $ 30,000 50,000 100.000 Buildings and Equipment 700,000 400,000 Less: Accumulated Depreciation (240,000) (80,000) Investment in Evans Company Stock 150,000 Total Assets $895.000 $500,000 Accounts Payable $145,000 $ 50,000 Bonds Payable 250,000 200,000 Common Stock ($10 par value) 300,000 100.000 Retained Earnings 200,000 150,000 Total Liabilities and Owners' Equity $895.000 $500.000