MCP 36-3 - Basic EPS with retrospective adjustment At Dec. 31, 2021 Entity C had 300,000 ordinary shares and 10,000 shares of 5%, P100 par value cumulative preference shares outstanding. No dividends were declared on either the preference or ordinary shares in 2020 or 2021. On Feb. 1, 2022, prior to the date that the 2021 financial statements are authorized for issue, the entity declared a 100% share dividend on its ordinary shares. Profit for 2021 was P950,000. In its 2021 financial statements, the entity's 2021 earnings per share should be a. P1.50 b. P1.58 C. P3.00 d. P3.17