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Fitzgerald Ltd had the following capital structure on 1 July 2019:
Number of ordinary shares 5 000 000
Number of 10% preference shares 100 000
During the year ended 30 June 2020, the company made net profit after tax of $400 000. Preference share dividends of $10 000 were paid during the year. The preference dividends were not treated as part of interest expense. No further shares were issued during the year ending 30 June 2020.
Question 1: Make the basic earnings per share of Fitzgerald Ltd for the year ending 30 June 2020.
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