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 percent of the common shares of Short Retall Stores. The companles' balance sheets as of December X were as follows:
Punch Manufacturing Corporation Short Retail Stores Assets Cash $ $ Accounts Receivable Inventory Land Buildings and Equipment Less: Accumulated Depreciation Investment in Short Retail Stores Total Assets $ $ Liabilities and Equity Accounts Payable $ $ Bonds Payable Preferred Stock $ par value theta Common Stock: $ par value $ par value Retained Earnings Total Liabilities and Equity $ $
Short Retall's percent preferred stock is convertible Into shares of common stock, and its percent bonds are convertible Into shares of common stock. Short reported net income of $ for X and pald dividends of $
Punch Manufacturing has percent preferred stock and percent bonds outstanding, neither of which is convertlble. Punch reported aftertax Income, excluding investment Income from Short, of $ in xx and pald dividends of $ The companles file separate tax returns and are subject to a 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.
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