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What earnings per share of ordinary shares would be

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Problem 1: Castle Over Hill Corp. had 400,000 ordinary shares outstanding on January 1, issued 600,000 shares on July 1, and had income applicable to common stock of P1,200,000 for the year ending December 31, 2017. In addition the Company has a bond amounting to P2,000,000 with an interest rate of 2% at the beginning of the year convertible to 100,000 ordinary shares. Income tax rate for the year 2017 is 30%. Earnings per share of ordinary shares for 2017 would be

a. 1.17

b. 1.71

c. 1.54

d. 1.75

Reference no: EM132628424

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