C. Utter Space Corp. had the following securities outstanding at the beginning of the current year: 4,000,000 10% convertible bonds payable, each P1,000 bond convertible into 10 ordinary shares or a total of P40,000 ordinary shares. Ordinary shares capital, P100 par, 250,000 shares Authorized, 100,000 shares issued Net Income Income tax rate 10,000,000 5,000,000 30% Required: Compute for Basic Earnings Per Share and Diluted Earnings Per Share