On January 1, Karen Company has 120,000 outstanding ordinary shares. During the year, Karen Company reported a net income of Php 3,000,000 and an income tax rate of 30%. In addition, Karen Company has 1,800, 10% convertible bonds Php 1,000 face amount. Each bond is convertible into 5 ordinary shares.

Required: Based on the above facts, answer the following:

1. How much is the basic earnings per share for the year?
2. How much is the diluted earnings per share assuming the bonds were issued on January 1 and no conversions were made during the year?
3. How much is the diluted earnings per share assuming the bonds were issued on May 1 and no conversion were made during the year?
4. How much is the basic earnings per share for the year assuming the bonds were issued in the previous year and were converted on August 1?
5. How much is the diluted earnings per share for the year assuming bonds were issued in the previous year and were converted on August 1?