The shareholders equity section of Hemisphere Inc. shows the following balances:

10% Preference Share Capital, P 250 par, 8,000 shares issued P 2,000,000

Ordinary Share Capital, P 10 par, 400,000 shares issued 4,000,000

The corporation earned P 1,600,000 for the year. There are 2 years dividends in arrears excluding the current year.

REQUIRED: Compute the basic earnings per share assuming.

1. Preference Shares are cumulative and dividends were declared during the year.
2. Preference Shares are cumulative and no dividends were declared during the year.
3. Preference Shares are non-cumulative and dividends were declared during the year.
4. Preference Shares are non-cumulative and no dividends were declared during the year.