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At December 31. 2013. Cabinet Company had 2.000.000 shares of ordinary shares standing._ On January 1. 3014. Cabinet issued 500.000 shares of preference. which were convertible into 1.000.000 shares or ordinary shares. During 2014. Cabinet declared and paid P1.500.000 cash dfrr'tiends on the ordinary shares and P500000 cash dividends on the praieranoe shares. Net mccrne or the year ended December 31. 2014 was P5000000. Assuming an income tart rate of 32%. how much is the diluted earnings per share for the year ended December 31. 2014? (a}P1.50 (b) PM? (o) Pans (d) 112.50 On January 1. 2011. Monochromatic Company had 56.000 ordinary shares outstanding that did not change during 2011 and 2010. The company granted options to certain executives to purchase 9,000 shares of its ordinary shares at P170 each. The average market price oi ordinary share 1Hires P105 per share during 2011. What is the total number of shares to be used in computing diluted earnings per share for 2011? (a) 55.00:) (b) 59pm} (c) 62,000 (d) sspoo