On December 31, 2020, Leeyam Co. had 500,000 issued ordinary shares at a par value of P10. The company also issued 150,000, P20 par, 12% cumulative preference shares. Net income for the year was P2,500,000 and the last dividend declaration was made in 2017. 1. How much is the earnings per share for 2020? 2. How much is the earnings per share assuming the preference shares are non-cumulative and no dividends were declared for 2020?