Oak plc acquired $70\%$ of Elm Ltd$$s equity shares for $300,000$ on $1$ January $2021.$ At

the date of acquisition Elm Ltd had retained earnings of $190,000.$

The two companies$$ financial statements are presented as follows as at $31$ December

$2021.1.$ In mid$-$December $2021$ Oak plc sold goods to Elm Ltd on credit and sent an invoice

for $200,000.$ Elm Ltd received the goods and the invoice but has not yet paid for the

goods. The goods had cost Oak plc $150,000.$ All the goods are in Elm$$s inventory.

$2.$ On the date of acquisition the fair value of one item $($land$)$ in Elm$$s property, plant

and equipment exceeded its carrying amount by $50,000.$ This valuation has not been

reflected in the books of Elm Ltd$.$

$3.$ It is the group policy to value the non$-$controlling interest at fair value. The fair value

of the non$-$controlling interest in Elm Ltd at the date of acquisition was $70,000.$

$4.$ Goodwill has suffered no impairment.

$5.$ Elm Ltd has issued no shares since the acquisition.

$6.$ Elm Ltd has not declared or paid any dividends in $2021.$

$7.$ There are no depreciation consequences of the fair value adjustment $($as the

underlying item was land$).$

$8.$ Oak$$s loan stock is convertible into a total of $500,000$ ordinary shares in $2024.$

Consider Oak$$s income tax rate at $25\%.$ Calculate the consolidated basic and diluted EPS!!