correct Mark 0.00 out of 1.00 Flag question Edit question Computing consolidated earnings per share (EPS) Assume the following facts about a parent and its 75% owned subsidiary company: Parent Subsidiary Net income $220,000 Common shares outstanding 50,000 Convertible preferred stock Dividends Convertible bonds $20,900 $55,000 22,000 (16,500 = 75% owned by parent) Convertible into 11,000 shares of common stock Interest expense after tax = $8,800 Convertible into 5,500 shares of common stock a. Compute basic earnings per share $ 4.4 b. Compute diluted earnings per share $ 3.95 X