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13. How much is basic earnings per share? (Note: pay preferred shares dividends first) a. 2.40 b. 2.80 c. 3.60

13. How much is basic earnings per share? (Note: pay preferred shares dividends first) a. 2.40 b. 2.80 c. 3.60

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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13. How much is basic earnings per share? (Note: pay preferred shares dividends first) a. 2.40 b. 2.80 c. 3.60
Transcribed Image Text:13. How much is basic earnings per share? (Note: pay preferred shares dividends first) a. 2.40 b. 2.80 c. 3.60
Dame company had 200,000 ordinary shares with P20 par value and P20,000 shares of P100 par, 6% cumulative, convertible preference share capital outstanding for the entire current year. Each preference share capital is convertible into 5 ordinary shares. The net income for the current year was 840,000.
Transcribed Image Text:Dame company had 200,000 ordinary shares with P20 par value and P20,000 shares of P100 par, 6% cumulative, convertible preference share capital outstanding for the entire current year. Each preference share capital is convertible into 5 ordinary shares. The net income for the current year was 840,000.
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