6.Plymouth Company holds a 90% 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

Savannah

Company

Inc.

Internally generated net income

$80,000

$60,000

Weighted average common shares outstanding

25,000

12,000

Preferred shares 5% convertible, par $100

1,000

Preferred shares 10% nonconvertible, par $2

5,000

Required:

Compute consolidated basic earnings per share for the current year. Ignore any tax effects.