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Compute the diluted earnings per share

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Reference no: EM132954549

Question - Lone Company reported the following at year-end:

Bonds payable - 10% = 1,000,000

Ordinary share capital, P100 par, 50,000, shares = 5,000,000

Net income = 1,730,000

The bonds are convertible into ordinary shares in the ratio of 10 ordinary shares for each P1,000 bond. The income tax rate is 30%.

Requirement -

1. Compute for the Basic earnings per share.

2. Compute for the Diluted earnings per share.

Reference no: EM132954549

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