P Company owns60%of S Company. The table below summarizes select information for the current year.

There are no intercompany transactions or adjustments required as a result of the acquisition.

Consolidated net income for the current year is $225,000.

Consolidated net income attributable to P for the current year is $185,000.

 

Compute Basic EPS as it would appear on the consolidated income statement for the current year.

What is the numerator in your computation?

What is the denominator in your computation?

Net income on separate records.* *P net income does NOT include equity income of S Shares of common stock outstanding throughout the year Dividends paid on common stock Dividends paid on preferred stock (not convertible) $ 125,000* 15,000 sh. $ 17,000 $10,000 $100,000 57,000 sh. $12,000 none