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Computing diluted earnings per share for the year

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Reference no: EM132790436

Question - Film Company had 2,500,000 ordinary shares outstanding on January 1, 2020. An additional 500,000 ordinary shares were issued on April 1, 2020 and 250,000 more on July 1, 2020.

On October 1, 2020, the entity issued 5,000, P1,000 face value, 12% convertible bonds. Each bond is convertible into 40 ordinary shares.

What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2020?

a. 3,000,000

b. 3,050,000

c. 3,250,000

d. 3,750,000

Reference no: EM132790436

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