41 1 Normal 1 No Spac... Heading 1 Heading 2 AaBbio AOBOCCD Subtitle Subtle Em Title Styles Font Paragraph 18. What should be reported as basic earnings per share for 2019? An entity reported the following information on December 31, 2019: Ordinary share capital 110,000 shares Convertible noncumulative preference share capital 20,000 shares 10% convertible bonds payable P2,000,000 Share options to purchase 60,000 shares at P1S were outstanding. Market price of ordinary share was P25 on December 31, 2019 and averaged P20 during the year. No value was assigned to the share options. The entity paid preference share dividends of Ps per share. The preference shures are convertible into 40,000 ordinary shares. The 10% bonds are converted into 30.000 ordinary shares. The net income for 2019 is P650,000. The tax rate is 30% O 5.00 O 5.91 O 4.36 O 4.40 119. What is the total number of potential ordinary shares? 20. What amount should be reported as diluted earnings per share for 2019? J