Fortuner Company had 200,000 ordinary shares outstanding on January 1, 2021. On January 1, 2021, the entity issued 4,000 convertible 10% bonds with P1,000 face value. The bonds were converted on October 1, 2021 and 40 ordinary shares were issued in exchange for each bond. Net income was P5,000,000. The income tax rate is 30%.

What is the amount of basic earnings per share?

A. 25.00

B. 13.80

C. 20.83

D. 15.62

What is the amount of diluted earnings per share?

A. 14.47

B. 21.65

C. 14.72

D. 14.61