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Question - Smidex Company is contemplating the purchase of Malta Company. The exchange is to be based on the market value of both companies. The following are the balance sheets of both companies before the merger takes place.
Smidex (RM)
Malta (RM)
Assets Current assets
200,000
20,000
Fixed assets
800,000
130,000
1,000,000
150,000
Liabilities and Equities Current liabilities
70,000
5,000
Long term debt
100,000
25,000
Common stock
600,000
80,000
Capital surplus
30,000
Retained earnings
10,000
Par value
3
2
Earnings per share
6
Market value per share
20
10
Required - You are required to do the following: Calculate the post-merger earnings per share for the acquiring company?
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