Assume the following facts are about a parent and its 70% owned subsidiary company: Parent Subsidiary Net income $100,000 $60,000 Common shares outstanding 20,000 20,000 Convertible Preferred Stock Dividends = $10,000 Convertible into 5,000 shares of common stock Convertible Bonds Interest expense after tax = $8,000 Convertible into 2,500 shares of common stock

what is the basic earnings per share? show steps