Exercise 10-14 (Static) Effect of Preferred Stock on Earnings per Share LO 10-4 Poison Corporation holds 70 percent of Snake Company's voting common shares but none of its preferred shares. Summary balance sheets for the companies on December 31,20X1, are as follows: Neither of the preferred issues is convertible. Poison's preferred pays a 9 percent annual dividend and Snake's preferred pays a 10 percent dividend. Snake reported net income of \\( \\$ 45,000 \\) and paid a total of \\( \\$ 20,000 \\) of dividends in \\( 20 \\times 1 \\). Poison reported \\( \\$ 59,000 \\) of income from its separate operations and paid total dividends of \\( \\$ 45.000 \\) in \\( 20 \\times 1 \\). Required: Compute \\( 20 \\times 1 \\) consolidated EPS. Ignore any tax consequences. Note: Round your answer to 2 decimal places