Question: Please Help I have gotten every answer but the right one. Punch Manufacturing Corporation owns 8 0 percent of the common shares of Short Retall

Please Help I have gotten every answer but the right one.
Punch Manufacturing Corporation owns 80 percent of the common shares of Short Retall Stores. The companles' balance sheets as of December 31,20X4, were as follows:
Punch Manufacturing Corporation Short Retail Stores Assets Cash $ 58,000 $ 38,000 Accounts Receivable 102,00082,000 Inventory 270,000140,000 Land 105,00075,000 Buildings and Equipment 500,000320,000 Less: Accumulated Depreciation (225,000)(135,000) Investment in Short Retail Stores 120,000 Total Assets $ 930,000 $ 520,000 Liabilities and Equity Accounts Payable $ 100,000 $ 80,000 Bonds Payable 270,000200,000 Preferred Stock ($10 par value)200,00090,00 theta Common Stock: $10 par value 150,000 $5 par value 100,000 Retained Earnings 210,00050,000 Total Liabilities and Equity $ 930,000 $ 520,000
Short Retall's 8 percent preferred stock is convertible Into 14,000 shares of common stock, and its 10 percent bonds are convertible Into 8,000 shares of common stock. Short reported net income of $53,200 for 20 X 4 and pald dividends of $30,000.
Punch Manufacturing has 11 percent preferred stock and 12 percent bonds outstanding, neither of which is convertlble. Punch reported after-tax Income, excluding investment Income from Short, of $100,000 in 20 xx4 and pald dividends of $66,000. The companles file separate tax returns and are subject to a 40 percent Income tax.
Required:
Compute basic and diluted EPS for the consolidated entity.
Note: Round your intermediate calculations and final answers to two decimal places.
Please Help I have gotten every answer but the

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