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How much is the diluted earnings per share

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Question - Buda Corp. had P500,000 net income in 2022. On January 1, 2022, there were 200,000 shares of ordinary outstanding. On April 1, 20,000 shares were issued and on September 1, bought 30,000 shares of treasury share. There are 30,000 options to buy ordinary shares at P40 per share. The market price of the ordinary shares averaged P50 during 2022. The tax rate is 40%.

During 2022, there were 40,000 shares of cumulative preferred stock outstanding. The preferred is P100 par, pays dividend of P3.50 per year, and is convertible into three shares of ordinary.

Buda issued P2,000,000 of 8% convertible bonds at face value during 2021. Each P1,000 bonds is convertible into 30 shares of ordinary. How much is the diluted earnings per share for 2022?

Reference no: EM133121538

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