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How many shares can the company buy back

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Blake Company's net income for 2015 was Php3,000,000. Of this amount, 40% will be used to purchase treasury stock. Currently, there are 1 million shares outstanding and the market price per share is Php9.00.

Question (a) How many shares can the company buy back through a tender offer of Php12 a share?

Question (b) What is the current earnings per share?

Question (c) What is the current P/E ratio?

Question (d) What will earnings per share be after the treasury stock acquisition?

Question (e) What is the expected market price per share assuming the present P/E ratio remains the same?

Reference no: EM132498567

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