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Compute the average shares

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Reference no: EM132935481

Question - Entity ML provided the following data:

January 1 - 100,000 shares issued and outstanding

April 1 - Share split 2 for 5

June 1 - Issued 50,000 new shares

July 1 - Share split 2 for 1

September 1 - 20% share dividend or bonus issue

The entity also has 9% Convertible Preference shares. The 5 Million Convertible shares with 100 par value can be converted into 5 common shares per preference share. Net income is 6,950,000.00.

Required -

1. Compute the Basic Earnings Per Share and Diluted Earning Per Share.

2. Compute the average shares excluding the effect of the convertible preference shares.

Reference no: EM132935481

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