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What amount should be reported as basic earnings per share

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Question - On December 31, 2020 and 2019, Bucks Corporation had 105,000 Ordinary Shares issued, 5,000 shares in the treasury, 10,000 shares subscribed and 10,000 5% Preference Shares, cumulative issued, P100 par value. No dividends were declared in2020 and 2019. Profit for the year 2020 was P900,000. What amount should be reported as basic earnings per share?

a. P8.00

b. P8.10

c. P8.50

d. P7.73

Reference no: EM133038148

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