On January 1, ABC Company has 120,000 outstanding ordinary shares. During the year, ABC reported net income of P 3,000,000. Income tax rate is 30%. In addition, ABC issued on January 1 a 1,800 P 1,000 10% convertible bonds at face amount. Each bond is convertible into 5 ordinary shares. How much is the diluted earnings per share? Group of answer choices 23.26 26.05 25.00 24.23
On January 1, ABC Company has 120,000 outstanding ordinary shares. During the year, ABC reported net income of P 3,000,000. Income tax rate is 30%. In addition, ABC issued on January 1 a 1,800 P 1,000 10% convertible bonds at face amount. Each bond is convertible into 5 ordinary shares. How much is the diluted earnings per share? Group of answer choices 23.26 26.05 25.00 24.23
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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17
On January 1, ABC Company has 120,000 outstanding ordinary shares. During the year, ABC reported net income of P 3,000,000. Income tax rate is 30%. In addition, ABC issued on January 1 a 1,800 P 1,000 10% convertible bonds at face amount. Each bond is convertible into 5 ordinary shares.
How much is the diluted earnings per share?
Group of answer choices
23.26
26.05
25.00
24.23
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