What amount should be reported as basic earnings per share

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Reference no: EM132792399

Question - On December 31, 2020, Flamingo Company had 500,000 ordinary shares issued and outstanding, 400,000 of which had been issued and outstanding throughout the year and 100,000 of which were issued on October 1,2020. The net income for the year was P5,100,000. What amount should be reported as basic earnings per share?

a. 10.10

b. 12.75

c. 12.00

d. 11.35

Reference no: EM132792399

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