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Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $520,000. Primus

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Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $520,000. Primus has 50,000 shares of common stock outstanding. Sonston reports net income of $120,000 for the period with 40,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding that allow the holder to acquire shares at $15.00 per share. The value of this stock was $30 per share throughout the year. Primus owns 5,900 of these warrants. What amount should Primus report for diluted earnings per share? (Round your intermediate percentage value to the nearest whole number and the final answer to 2 decimal places.) Diluted earnings per share Porter Corporation owns all 24,000 shares of the common stock of Street, Inc. Porter has 66,000 shares of its own common stock outstanding. During the current year, Porter earns net income (without any consideration of its investment in Street) of $222,000 while Street reports $121,000. Annual amortization of $13,000 is recognized each year on the consolidation worksheet based on acquisition- date fair-value allocations. Both companies have convertible bonds outstanding. During the current year, bond-related interest expense (net of taxes) is $30,000 for Porter and $15,000 for Street. Porter's bonds can be converted into 5,000 shares of common stock; Street's bonds can be converted into 6,000 shares. Porter owns none of these bonds. What are the earnings per share amounts that Porter should report in its current year consolidated income statement? (Round your answers to 2 decimal places.) Earnings per Share Basic Diluted

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