What amount should be reported as basic earnings per share

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Reference no: EM133901297

Problem

Mono Company showed the following information for the year 2022:

Income from continuing operations 1,882,500
Loss from discontinued operations Net income 1,612,500
Retained earnings - January 1 Dividends paid on preference shares Dividends paid on ordinary shares Retained earnings - December 31 ( 270,000)
500,000
( 60,000)
(350,000)
1,702,500

On December 31, 2022, the entity had outstanding 140,000 ordinary shares and 10,000 preference shares with P100 par value. Get the instant assignment help. On April 1, 2022 the entity issued 20,000 ordinary shares. What amount should be reported as basic earnings per share?

Reference no: EM133901297

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