Consolidated basic and diluted earnings per share.
Peppercorn Corporation owns 90% of Salt Corporation's common stock and 4,000 of their stock options. Throughout 2009, Salt had 20,000 shares of common stock outstanding and peppercorn has 50,000 shares of common stock outstanding. Salt's only dilutive security also consists of 10,000 stock options. It takes 4 options plus $20 to acquire one share of Salt common stock. The average price of Salt's stock is $50 per share. Peppercorn's and Salt's separate incomes for the year are $150,000 and $105,000, respectively. Compute the amount of consolidated basic and diluted earnings per share for Peppercorn and Salt Corporations.