how much is the basic earnings per share for the year ended 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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#24
The adjusted net income of ABC Company for the years 2021 and 2020 amounted to P 2,796,354.00 and P 2,091,096.00, respectively. Information regarding EPS computation are as follows:
Ordinary shares outstanding, January 2020 – 36,000
Rights issue during 2020 – 18,000
Date of exercise of rights – June 30, 2021
Fair value of share right – on – P 420
Subscription price – P 60
If ABC company intends to present a financial statement for the comparative periods 2020 and 2021, how much is the basic earnings per share for the year ended 2021? (round-off answer to the nearest centavo)
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