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Calculate the earnings available to ordinary shareholders

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Reference no: EM132606679

Parsifal Ltd had the following capital structures on 1 July 2015.

Number of ordinary shares                 4,000,000

Number of 10% preference shares           400,000

On 31 March 2015, 300,000 ordinary shares were issued for cash.

During the year ended 30 June 2015 the company made a profit from continuing operation after tax of $450,000.

Preference dividends of $80,000 were paid during the year.

Required:

Question a. Calculate the earnings available to ordinary shareholders

Question b. Calculate the weighted average number of ordinary shares outstanding during the year ended 30 June 2015

Question c. Calculate basic earnings per share for Parsifal Ltd for the year ended 30 June 2015

Reference no: EM132606679

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