Royal Company reported the following capital structure on January 1, Shares issued and outstanding 2017: 200,000 50,000 Ordinary share capital Preference share capital On October 1, 2017, the entity issued a 10% share dividend on ordinary shares and declared the annual cash dividend of P200,000 on preference shares. The preference shares are noncumulative, nonparticipating and nonconvertible. Net income for the year ended December 31, 2017 was P1,920,000. What amount should be reported as basic earnings per share? Ute Company had the following capital structure during 2016 and 2017: Preference share capital, P10 par, 4% cumulative. 25,000 shares issued and outstanding Ordinary share capital, P5 par, 200,000 shares issued and outstanding 250,000 1,000,000 The entity reported net income of P500,000 for the year ended December 31, 2017. The entity paid no preference dividends during 2016 and paid P16,000 in preference dividends during 2017. What amount should be reported as basic earnings per share?