Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. lilac company has 200,000 shares of ordinary share

Lilac Company has 200,000 shares of ordinary shares outstanding on January 1, 2021. On March...

70.2K

Verified Solution

Question

Accounting

image

Lilac Company has 200,000 shares of ordinary shares outstanding on January 1, 2021. On March 31, 2021, 100,000 additional ordinary shares. On June 30, the company issued 10%, 100,000 convertible preference share par value of P20. The preference shares are convertible into 200,000 shares of ordinary shares. On December 31, 2021, Lilac Company reported a net income of P1,140,000 after tax and paid dividends of P300,000 to ordinary and P100,000 to preference shareholders. What is the diluted earnings per share? a. 3.51 b. 3.42 c. 3.04 d. 3.24

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Investment Timing Option: Decision-Tree Analysis The Karns Oil Company is deciding whether to drill for oil...

Biology
1.2K views

Each year, many people get a flu shot to protect themselves from the flu. Why give...

Biology
1.2K views

Which of the following choices is quickly becoming the second leading cause of disease and...

Physics
1.2K views

A thin equiconvex lens has focal length 10 cm and refractive index 1 5 One...

Physics
1.2K views

All sides of an equilateral triangle are diameter of three identical uniform semicircular rings each...

Basic Math
1.2K views

125 8x Use the following factorization formulas involving cubes to factor the expression Factorizations with...

Calculus
1.2K views

Let f(x,y)=2^x + 3xy, find f(0, 4), f(? 4,3), and f(4,3).f(0,-4)= (Simplify your...

Accounting
1.2K views

Question 1: Type of Organization Introduction Ever since graduating from NAITs dental repair certificate program...

Accounting
1.2K views

Please help! The condensed product-line income statement for Dish N Dat Company for...

Accounting
1.2K views

Flex Star also has a division that makes and sells garbage bags, Alex was not...

Accounting
1.2K views

Explain premature revenue recognition

Finance
1.2K views

Brandtly Industries invests a large sum of money in R&D as a result, it retains...