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What amount should be reported as basic earnings per share

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Reference no: EM132539708

Point 1: On January 1 of the current year, Gina company had 300,000 ordinary shares outstanding, 100 par or a total par value of 30,000,000.

Point 2: During the year, the entity issued rights to acquire one ordinary share at 100 in the ratio of one share for every 5 shares held.

Point 3: The right are expected on March 31. The market value of each ordinary share immediately prior to March 31 was 160. The net income for the year was 6,000,000.

Question 1: What amount should be reported as basic earnings per share?

Option a. 17.14

Option b. 16.67

Option c. 18.75

Option d. 17.39

Reference no: EM132539708

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