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How much is the diluted earnings per share

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Question - On December 31, 2021, Renew Company had 200,000 ordinary shares outstanding with a par value of P100 per share. In addition, the company had 100,000 shares of 10% convertible preference shares with a par value of P50 per share. The preference shares are convertible into 50,000 ordinary shares. On December 31, 2022, Renew Company reported and after-tax income of P1,000,000 and paid P100,000 and P200,000 dividends to preference and ordinary, respectively. How much is the diluted earnings, if any, per share?

Reference no: EM133179874

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