Monitor Company has 120,000 ordinary shares issued and outstanding at January 1, 2020. On January 2 of the same year, the company issued 80,000 preference shares. During the year the company declared and paid P420,000 and P240,000 cash dividends on ordinary and preference shares respectively. Net income for the year was P1,500,000.
Monitor Company has 120,000 ordinary shares issued and outstanding at January 1, 2020. On January 2 of the same year, the company issued 80,000 preference shares. During the year the company declared and paid P420,000 and P240,000 cash dividends on ordinary and preference shares respectively. Net income for the year was P1,500,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Monitor Company has 120,000 ordinary shares issued and outstanding at January 1, 2020. On January 2 of the same year, the company issued 80,000 preference shares. During the year the company declared and paid P420,000 and P240,000 cash dividends on ordinary and preference shares respectively. Net income for the year was P1,500,000.
Compute the BASIC EARNINGS PER SHARE in 2020
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