The following information is available regarding Pam Corporation and its 80 percent-owned subsidiary, Sun Corporation, at and for the year ended December 31, 2016:

REQUIRED:
Determine consolidated earnings per share (both basic and diluted).

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Pam Sun 5,000 shares 1,000 warrants 8,000 shares Outstanding common stock Warrants to purchase 1,000 shares of Sun common stock at $9 per share (average market price is $15) Net income (includes income from Sun) Income from Sun ($14,400 $2,400 amortization of $20,000 $18,000 excess cost over book value acquired) $12,000