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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: Poison Corporation Snake Company 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 $ 13,000 38,000 120,000 290,000 (133,000) 123,200 $ 451,200 $ 24,000 48,000 70,000 215,000 (64,000) $293,000 $ 62,000 $ 77,200 44,000 100,000 120,000 110,000 $ 451,200 55,000 100,000 76,000 $293,000 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 $48,000 and paid a total of $20,000 of dividends in 20X1. Poison reported $61,000 of income from its separate operations and paid total dividends of $49,000 in 20X1. Required: Compute 20X1 consolidated EPS. Ignore any tax consequences. (Round your answer to 2 decimal places.) Consolidated earnings per share Required information Plus Corporation acquired 80 percent of Subtract Corporation's common stock on March 31, 20X4 for $360,000. At that date, the fair value of the noncontrolling interest was $90,000. On January 1, 20X4, Subtract reported the following stockholders' equity balances: Common Stock $10 par value) Additional Paid-In Capital Retained Earnings Total Stockholders' Equity $150,000 75,000 200,000 $425,000 Subtract reported net income of $100,000 in 20X4, earned uniformly throughout the year, and declared and paid dividends of $40,000 on December 31, 20X4. Plus reported retained earnings of $500,000 on January 1, 20X4, and had 20x4 income of $200,000 from its separate operations. Plus paid dividends of $50,000 on December 31, 20X4. Peacoat accounts for its investment in Subtract Corporation using the equity method. WATCH THE DATES Based on the information provided, what is the consolidated net income reported for the year 20X4? Multiple Choice $280,000 O $275,000 O $260,000 o $200,000

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