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provide solution Magnify Company had 400,000, P10 par, 109% cumulative preference shares outstanding all throughout 2019. Magnify Company reported profit after tax of P5,000,000 for

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Magnify Company had 400,000, P10 par, 109% cumulative preference shares outstanding all throughout 2019. Magnify Company reported profit after tax of P5,000,000 for the year ended December 31, 2019. The movements in the number of ordinary shares are as follows: 01/02/2019 Ordinary shares outstanding 180,000 04/30/2019 Shares issued for cash 63,000 09/30/2019 Subscribed shares 30,000 11/02/2019 Reacquisition of treasury shares (18,000) 12/01/2019 Reissuance of treasury shares 12,000 What is the basic earnings per share

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