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What is the weighted average number of ordinary shares

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Question - The Lalalu Corporation reported profit for 2022 of P177,500. Lalalu began the year with 100,000 shares of P5 par value ordinary shares outstanding and 2,500 shares of P100 par value 8% non cumulative preference shares outstanding. On December 31, Lalalu sold 10,000 shares of ordinary shares for P6 per share. Lalalu did not declare dividends to preference shareholders in December.

Required - What is the weighted average number of ordinary shares to be used in the computation of basic earnings per share for 2022?

Reference no: EM133156972

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