Farmer Company had the following share capital as of December 31, 2021:

Bonds payable, P1,000 face value, 5,000 bonds, 6% interest rate, each bonds are convertible into twenty ordinary shares	5,000,000
Ordinary share capital, P50 par, 500,000 shares authorized, 200,000 shares outstanding	10,000,000

The entity reported a net income of P5,400,000 for the current year. The income tax rate is 30%.

Compute for the basic and diluted earnings per share based on the following independent scenarios:

1. The bonds were issued in the prior year at par value.

BEPS =

DEPS =

2. The bonds were issued on July 1, 2021.

BEPS =

DEPS =