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What is the amount of basic earnings per share

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Reference no: EM132972952

Question - On January 1, Cee Company's ordinary share capital amounted to P1,000,000, with P10 par value. On April 1, 2021, the entity issued P5,000,000, 10% bonds with a face value of P1,000. The bonds were converted on October 1, 2021 and 20 ordinary shares were issued in exchange for each bond. Net income was P10,000,000. The income tax rate is 30%.

Requirement -

1. What is the amount of basic earnings per share?

2. What is the amount of diluted earnings per share?

Reference no: EM132972952

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