Reference no: EM132673652
On December 31, 2019, Reload Company had 200,000 ordinary shares outstanding with a par value of P100 per share. In addition, the company had 40,000 shares of 10% convertible preference shares with a par value of P50 per share. The preference shares are convertible into 40,000 ordinary shares. On December 31, 2020, Reload Company reported an after tax income of P800,000 and paid P200,000 and P250,000 dividends to preference and ordinary, respectively.
Problem 1: What amounts of earnings per share Reload Company should report in its December 31, 2020 financial statements?
a. Basic Earnings per Share (BEPS) of P3.00 only.
b. Basic Earnings per Share of P4.00 only.
c. Basic Earnings per Share of P3.00 & Diluted Earnings per Share (DEPS) of P3.33.
d. Basic Earnings per Share of P4.00 & Diluted Earnings per Share (DEPS) of P3.33.
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