Camiguin Company reported the following information at year-end: Ordinary share capital Convertible noncumulative preference share capital 10% convertible bonds payable 110,000 shares 20,000 shares P2,000,000 Share options to purchase 60,000 shares at P15 were outstanding. Market price of share was P25 at yer-end and averaged P20 during the year. The entity paid the annual dividend of P5 on the preference share. The preference shares are convertible into 40,000 ordinary shares. The 10% bonds are convertible into 30,000 ordinary shares. The net income for the current year was P650,000. The income tax rate is 30%. Required: 1. Basic earnings per share 2. Diluted earnings per share

Camiguin Company reported the following information at year-end: Ordinary share capital Convertible noncumulative preference share capital 10% convertible bonds payable 110,000 shares 20,000 shares P2,000,000 Share options to purchase 60,000 shares at P15 were outstanding. Market price of share was P25 at yer-end and averaged P20 during the year. The entity paid the annual dividend of P5 on the preference share. The preference shares are convertible into 40,000 ordinary shares. The 10% bonds are convertible into 30,000 ordinary shares. The net income for the current year was P650,000. The income tax rate is 30%. Required: 1. Basic earnings per share 2. Diluted earnings per share

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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please find basic earnings per share and diluted earnings per share
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