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: Assets Cash Accounts Receivable Inventory Buildings and Equipment Less: Accumulated Depreciation Investment in Snake Company Total Assets Liabilities and Owners' Equity Accounts Payable Wages Payable Preferred Stock Common Stock ($10 par value) Retained Earnings Total Liabilities and Owners' Equity Poison Corporation $ 14,000 40,000 110,000 280,000 (130,000) 126,000. $ 440,000 $ 70,000 40,000 100,000 120,000 110,000 $ 440,000 Snake Company Required: Compute 20X1 consolidated EPS. Ignore any tax consequences. Note: Round your answer to 2 decimal places. Consolidated earnings per share $ 30,000 50,000 80,000 200,000 (60,000) $ 300,000 $ 70,000 50,000 100,000 80,000 $ 300,000 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 20X1. Poison reported $59,000 of income from its separate operations and paid total dividends of $45,000 in 20X1.