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Choice 12 Odesky, Inc has 5,000,000 ordinary shares outstanding on December 31. 2005. An additional 1,000,000 ordinary shares were issued on The following gross margin data were uken from the income April 1. 2006 and 500,000 move on July 1. 2006. On October 1, 2006 statements of a retailing firm X & V. Inc. for fee periods Cdotsky issued 10,000, P10DO face value, 7%% convertible bands. Each band is convertible into 40 ordinary shares and were considered Perrad A Saka revenue. potential ordinary shares and no bonds were converted into ordinary Cont of sakes. shares in 2006. What is the number of shares to be wind in computing Gross margin basic earnings per share and diluted earnings per share. respoctively? 40.710 5.750.000 and 5.950,000 5.750,000 and 6,150,010 If saki volume declined by 10 on Parked h the percentage of 6.000,000 and 6, 100,000 change in selling price is d 6.000,000 and 6,900,000 10%% increase 5% incarcand, 5.5%% increase A J. Company had 100,000 ordinary shares issued and outstanding if d 9% decrease. December 31, 2005, On July 1, 20:06, A. J. issued a 10%% minck dividend Uneverciand mock option to purchase 20,000 ordinary Mems 2 and J are based on the following dear shares (adjustod for the 2006 stock dividend) at P20 per share were outstanding at the beginning and and of 2006. The average market price of A. I's ordinary shares (which was not affected by the rock Sales P208,010 dividend) was P23 per share during 2006. Net income for the your Cost of sales andod December 31, 2006, was P550,000. What should be A. J.'s Gross profit P 31.500 P 50.060 706 diluted carnings por ordinary share, rounded to the nearcal Unit selling price decreased by 20% in 2006 P5 05 The act change in gross profit in 2006 due to quantity factor is P60,DOD increase. b. P15,090 increase. 14 DR Corporation's capital structure was as follows P40,000 decrease December JI The change in gross profit due to the decrease in selling price is NOWAS Outstanding shares of lock P 1,000 increase Ordinary P60,000 do 1 10.DOO 1 10,000 P52,000 de Convertible preference shared issue "'% Convertible bonds P52,000 inc PI.090.000 PI,000, 049 266 Chapter 7 Gross Profit Variation Analysis and Earnings Per Share Determination the the following information for questions of through a During 2006, DB paid dividends of P3 00 per share on its preference Data for X Company follow shares. The preference shares are convertible into 20,100 ordinary shares and are considered potential ordinary shares The 8% bands are Product A Product B convertible into 30,000 ordinary shares and considered potential ordinary shares. Net income for 2006 was P850,000 Assume that the Units sold 10.060 20,000 10,0On 15J000 income tax rate is 30% The diluted earnings per share for 2006 is: Unit selling price PIO PIS PIS PIO P745. Unit cost P 5 P 7.50 b P6.54 The increase (decrease) in gross profit in 2006 is P5.66. P70,010. b. KCM, Inc. had 200,000 shares of P20 par ordinary shares and 20,000 shares of P100 par, 6%% cumulative, convertible preference share PI10,000 outstanding for the entire year ended December 31, 2005. Each preference share is convertible into 5 ordinary shares KCM's rat The sales price factor is income for 2005 was P340,000, For the year ended December 31 P25,000 favorable. P25,0Ou unfavorable 2005, the basic carnings per share is b. P2.40. P200,010 favorable P200,009 unfavorable P2 80. P3 60. The post factor is P4 20. P25,000 unfavorable P25,000 favorable The the following data to anneer items 16 and 17. P90,090 unfavorable d P90,000 favorable The Blue Company was organized on Jamiary 1, 2005, at which time it issued 10,000 shares of P10 par ordinary shares. On July 1, 2015, Hlux The increase (decrease) in gross profit due to change in everall declared and issued a 10 percent ordinary stock dividend On October 1, quantity sold is 1005, an widitional 2,000 ordinary shares were issued at par The net P152.5001 income for the year ended December 31, 2005, was P12,650. P42,900 P90,060 P40.001 As a result of the events described, Blue Company had 13,000 ordinary shares outstanding as of January 1, 2006, On that date options were granted The sales max factor is to certain employees which entitled them to buy 1,090 ordinary shares at PIG P35,000 unfavorable per share. The average price of the ordinary shares during 2006 was P20 per P 7,500 favorable share. The price of the ordinary share on December 31, 2006 was P23 per P 7,500 unfavorable share. Net income for the year ended Docomber 31, 2006, was P29, 172. No P35,000 favorchia ordinary shares were issued during 2006
