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What is the amount to be used as earnings

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Reference no: EM133076950

Question - Michelle Company had the following share capital issued and outstanding for the entire current year:

200,000 ordinary shares, P10 par 2,000,000

2,000 12% noncumulative preference shares, P100 par, convertible share into ordinary share 200,000

The net income for the year was P1,800,000, and the income tax rate for the year was 30%. In the computation of basic earnings per share, what is the amount to be used as earnings?

Reference no: EM133076950

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