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On December 31, 2019, JnT Co. had 2,000,000 shares of ordinary shares standing. On January 1, 2020, JnT Co. issued 500,000 shares of preference shares, which were convertible into 1,000,000 shares of ordinary shares. During 2020, JnT Co. declared and paid P1,500,000 cash dividends on the ordinary shares and P500,000 cash dividends on the preference shares. Net income for 2020 was P 5,000,000.IF income tax rate is 30%, how much is the diluted EPS for the year ended December 31, 2020? *   a.) 1.50 b.) 1.67 c.) 2.08 d.) 2.50

On December 31, 2019, JnT Co. had 2,000,000 shares of ordinary shares standing. On January 1, 2020, JnT Co. issued 500,000 shares of preference shares, which were convertible into 1,000,000 shares of ordinary shares. During 2020, JnT Co. declared and paid P1,500,000 cash dividends on the ordinary shares and P500,000 cash dividends on the preference shares. Net income for 2020 was P 5,000,000.IF income tax rate is 30%, how much is the diluted EPS for the year ended December 31, 2020? *   a.) 1.50 b.) 1.67 c.) 2.08 d.) 2.50

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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On December 31, 2019, JnT Co. had 2,000,000 shares of ordinary shares standing. On January 1, 2020, JnT Co. issued 500,000 shares of preference shares, which were convertible into 1,000,000 shares of ordinary shares. During 2020, JnT Co. declared and paid P1,500,000 cash dividends on the ordinary shares and P500,000 cash dividends on the preference shares. Net income for 2020 was P 5,000,000.IF income tax rate is 30%, how much is the diluted EPS for the year ended December 31, 2020? *

 

a.) 1.50

b.) 1.67

c.) 2.08

d.) 2.50

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