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How much is the diluted earnings per share

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Question - Neon Company has 110,000 ordinary shares outstanding, 10,000 6% cumulative, P100 par convertible preference share that are convertible into 20,000 ordinary shares and an 8%, 4-year convertible bonds with a face value of P1,000,000, convertible into 30,000 ordinary shares. The bonds were issued on January 1 when the prevailing interest rate was 10%. The liability component of the bonds at the time of issue is P936,600. Net income for the year is P850,000. Income tax rate is 32%. How much is the diluted earnings per share for the year?

Reference no: EM133031887

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