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Calculate the basic EPS for the year to June

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Question - CeDe Ltd has issued share capital consisting of 800,000 ordinary shares. There are no preference shares. Some years ago, the company issued $1 million of 8% convertible loan stock, convertible in 2025 at the rate of two ordinary shares for every $10 of loan stock. The company's profit after tax for the year to 30 June 2020 is $640,000.

Required -

1. Explain the terms basic earnings per share (EPS) and diluted EPS.

2. Calculate the basic EPS for the year to 30 June 2020.

3. Calculate the diluted EPS for the year to 30 June 2020, assuming the company pays tax at 20%.

Reference no: EM132629861

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