Dunn Company had 200,000 ordinary shares of P20 par value and 20,000 shares of P100 par, 6% cumulative, convertible preference share capital outstanding for the entire current year, Each preference share is convertible into 5 ordinary shares. The net income for the current year was P840,000. What amount should be reported as diluted earnings per share? Cox Company had 1.200,000 ordinary shares outstanding on January 1 and December 31, 2017. In connection with the acquisition of a subsidiary in previous year, the entity is required to issue 50,000 additional ordinary shares on July 1, 2018 to the former owners of the subsidiary. The entity paid P200,000 annual preference dividend in 2017 and reported net income of P3.400,000 for the year. The preference share capital is noncumulative and nonconvertible What amount should be reported as diluted earnings per share?