The following information was obtained from the statement of financial position of NORWAY, INC. on December 31, 2017: 6% convertible 10-year bonds at par Ordinary share capital, P20 par, 110,000 shares issued and outstanding Retained earnings P2,000,000 2,200,000 950,000 Each P1,000 bond can be converted into 40 ordinary shares. On September 30, 2018, the bonds were all converted into ordinary shares. Norway reported net income of PG00,000 in 2018. The income tax rate is 30%. 16. What is Norway's basic earnings per share for 2018? . P3.16 с. Р5.07 b. РА.62 d. P5.45 17. What is Norway's diluted earnings per share for 2018? a. P2.83 с. Р3.16 b. Р3.63 d. P3.49
The following information was obtained from the statement of financial position of NORWAY, INC. on December 31, 2017: 6% convertible 10-year bonds at par Ordinary share capital, P20 par, 110,000 shares issued and outstanding Retained earnings P2,000,000 2,200,000 950,000 Each P1,000 bond can be converted into 40 ordinary shares. On September 30, 2018, the bonds were all converted into ordinary shares. Norway reported net income of PG00,000 in 2018. The income tax rate is 30%. 16. What is Norway's basic earnings per share for 2018? . P3.16 с. Р5.07 b. РА.62 d. P5.45 17. What is Norway's diluted earnings per share for 2018? a. P2.83 с. Р3.16 b. Р3.63 d. P3.49
Chapter1: Financial Statements And Business Decisions
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