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What amount should be reported as basic earnings per share

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Question - WGatchalian company reported the following capital structure during the current year:

Preference share capital, P100 par, 4% cumulative, 25,000 shares issued and outstanding 2,500,000

Ordinary share capital, P50 par, 200,000 shares issued and outstanding 10,000,000

The entity reported net income of P5,000,000 for the current year. The entity paid no preference dividends in the prior year and paid P160,000 in preference dividends in the current year. What amount should be reported as basic earnings per share?

Reference no: EM133185204

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