PLEASE PROVIDE COMPUTATION! ITEMS FOR 16 AND 17 ARE BASED ON THE FOLLOWING INFORMATION:The following information was obtained from the statement of financial position of NORWAY, INC. on December 31,2017:6% convertible 10-year bonds at parOrdinary share capital, P20 par,110,000 shares issued and outstandingP2,000,0002,200,000Retained earnings950,000Each P1,000 bond can be converted into 40 ordinary shares. On September 30, 2018, the bonds were all convertedinto ordinary shares. Norway reported net income of P600,000 in 2018. The income tax rate is 30%.16. What is Norway's basic earnings per share for 2018?а. Р3.16c. P5.07b. Р4.62d. P5.4517. What is Norway's diluted earnings per share for 2018?a. P2.83С. Р3.16b. Р3.63d. P3.49

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Description: PLEASE PROVIDE COMPUTATION! ITEMS FOR 16 AND 17 ARE BASED ON THE FOLLOWING INFORMATION:The following information was obtained from the statement of financial position of NORWAY, INC. on December 31,2017:6% convertible 10-year bonds at parOrdinary sha

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The following information was obtained from the statement of financial position of NORWAY, INC. on December 31, 2017: 6% convertible 10-year bonds at par Ordinary share capital, P20 par, 110,000 shares issued and outstanding Retained earnings P2,000,000 2,200,000 950,000 Each P1,000 bond can be converted into 40 ordinary shares. On September 30, 2018, the bonds were all converted into ordinary shares. Norway reported net income of PG00,000 in 2018. The income tax rate is 30%. 16. What is Norway's basic earnings per share for 2018? . P3.16 с. Р5.07 b. РА.62 d. P5.45 17. What is Norway's diluted earnings per share for 2018? a. P2.83 с. Р3.16 b. Р3.63 d. P3.49

The following information was obtained from the statement of financial position of NORWAY, INC. on December 31, 2017: 6% convertible 10-year bonds at par Ordinary share capital, P20 par, 110,000 shares issued and outstanding Retained earnings P2,000,000 2,200,000 950,000 Each P1,000 bond can be converted into 40 ordinary shares. On September 30, 2018, the bonds were all converted into ordinary shares. Norway reported net income of PG00,000 in 2018. The income tax rate is 30%. 16. What is Norway's basic earnings per share for 2018? . P3.16 с. Р5.07 b. РА.62 d. P5.45 17. What is Norway's diluted earnings per share for 2018? a. P2.83 с. Р3.16 b. Р3.63 d. P3.49

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 26E: Tama Companys capital structure consists of common stock and convertible bonds. At the beginning of...

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