The ZAB Corporation has the following information relating to its share capital:

• 10% Preference shares, cumulative, P100 par value, 30,000 shares authorized, 20,000 shares outstanding - P2,000,000
• Ordinary shares, P10 par value, 500,000 authorized, 300,000 shares outstanding - P3,000,000

Required: Compute the earnings per share assuming that the reported profit of the company is P750,000.