Plymouth Company Holds a 90% Interest in Savannah, Inc Additional Information:
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the Warrants to Acquire Savannah Stock

Plymouth Company holds a 90% interest in Savannah, Inc., which was acquired in a previous year.As of the end of the current fiscal period, the following information is available:
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$\begin{array}{lrr}&\text { Plymouth } & \text { Savannah } \\&\text { Company } & \text { Inc. }\\\text { Internally generated net income } & \$ 80,000 & \$ 60,000 \\\text { Weighted average common shares outstanding } & 25,000 & 12,000 \\\text { Warrants to acquire sub's common stock: } & & \\\quad \text { Held by unaffiliated investors } && 2,000\\\text { Warrants to acquire parent's common stock: } & \\\quad \text { Held by Savannah } & 1,000 \\\text { Held by unaffiliated investors } & 2,000 \\\text { Preferred shares } 5 \% \text { convertible, par } \$ 100 &&1,000 \\\text { Preferred shares } 10 \% \text { nonconvertible, par } \$ 2 & 5,000\end{array}$ Additional information:
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The warrants to acquire Savannah stock were issued July 1 of the current year. Exercise price is $\$ 9$ ; stock price is $\$ 12$ .
The warrants to acquire Plymouth stock were issued in a previous fiscal period. Exercise price is $\$ 12$ ; stock price is $\$ 18$ .
Each share of convertible preferred can be converted into 5 shares of Savannah common stock. Plymouth owns $60 \%$ of the convertible preferred stock. Required:
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Compute consolidated basic and diluted earnings per share for the current year.Ignore any tax effects.
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