Corporation Stores Assets Cash $ 60,000 $ 40,000 Accounts Receivable 109,000 89,000 Inventory 260,000 125,000 Land 100,000 70,000 Buildings and Equipment 510,000 320,000 Less: Accumulated Depreciation (240,000) (135,000) Investment in Short Retail Stores 140,000 Total Assets $ 939,000 $ 509,000 Liabilities and Equity Accounts Payable $ 89,000 $ 34,000 Bonds Payable 300,000 200,000 Preferred Stock ($10 par value) 200,000 100,000 Common Stock: $10 par value 150,000 $5 par value 100,000 Retained Earnings 200,000 75,000 Total Liabilities and Equity $ 939,000 $ 509,000 Short Retail's 8 percent preferred stock is convertible into 16,000 shares of common stock, and its 10 percent bonds are convertible into 8,000 shares of common stock. Short reported net income of $50,800 for 20X4 and paid dividends of $30,000. Punch Manufacturing has 11 percent preferred stock and 12 percent bonds outstanding, neither of which is convertible. Punch reported after-tax income, excluding investment income from Short, of $115,000 in 20X4 and paid dividends of $67,000. The companies file separate tax returns and are subject to a 40 percent income tax. Required: Compute basic and diluted EPS for the consolidated entity. Note: Round your intermediate calculations and final answers to two decimal places. Answer is complete but not entirely correct. $ 8480 $ 1096 Basic earnings per share Diluted earnings per share