Last Na Company provided the following data on December 31, 2011: Operating revenue P 5,600,000; Operating expenses 3,000,000 ; Income tax rate 30%; Ordinary shares outstanding the entire year 200,000. On January 1, 2011, there were options outstanding to purchase 40,000 ordinary shares at P25 per share. The average market price during the year was P20 per share. The statement of financial position reported P2,000,000 of 10% non-convertible bonds at December 31, 2011. Interest expense is included in operating expenses. The diluted earning per share is: Choices; 7.58 8.89 9.10 9.58
Last Na Company provided the following data on December 31, 2011: Operating revenue P 5,600,000; Operating expenses 3,000,000 ; Income tax rate 30%; Ordinary shares outstanding the entire year 200,000. On January 1, 2011, there were options outstanding to purchase 40,000 ordinary shares at P25 per share. The average market price during the year was P20 per share. The statement of financial position reported P2,000,000 of 10% non-convertible bonds at December 31, 2011. Interest expense is included in operating expenses. The diluted earning per share is: Choices; 7.58 8.89 9.10 9.58
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Last Na Company provided the following data on December 31, 2011: Operating revenue P 5,600,000; Operating expenses 3,000,000 ; Income tax rate 30%; Ordinary shares outstanding the entire year 200,000. On January 1, 2011, there were options outstanding to purchase 40,000 ordinary shares at P25 per share. The average market price during the year was P20 per share. The statement of financial position reported P2,000,000 of 10% non-convertible bonds at December 31, 2011. Interest expense is included in operating expenses. The diluted earning per share is:
Choices;
7.58
8.89
9.10
9.58
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