Computing consolidated earnings per share (EPS) Assume the following facts about a parent and its 75% owned subsidiary company: Parent Subsidiary Net income $210,000 Common shares outstanding 50,000 Convertible preferred stock Dividends $20,100 Convertible into 9,000 shares of common stock Convertible bonds a. Compute basic earnings per share $ $49,000 28,000 (21,000 75% owned by parent) Interest expense after tax $7,100Convertible into 6,000 shares of common stock b. Compute diluted earnings per share