Reference no: EM132984865
Question - The following is an extract from the draft Statement of Financial Position of a quoted company as at 31 December 20X2, the end of its most recent financial year:
£000
Issued ordinary shares of £1 96,000
Share premium 36,000
Profit and loss account 51,700
10% Debentures 50,000
The following is an extract from the company's Income Statement for the year ended 31 December 20X2:
£000
Operating profit 20,510
Loan interest 5,000
Profit before taxation 15,510
Taxation 3,102
Profit for the year 12,408
On 1 June 20X2 the company made a bonus issue of shares of 1 for 4. This has not yet been recorded in the financial statements.
In the published Income Statement for the year ended 31 December 20X1 the company's reported an earnings per share figure was 7.8 pence for 20X1.
Required - Calculate the comparative earnings per share figure for 20X1 (correct to one decimal place) for publication as a comparative in the income statement for the year ended 31 December 20X2.
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