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Calculate the restated basic EPS for the year

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Reference no: EM132629870

Question - The profit after tax of DeEe Ltd to the year 31 December 2019 was $780,000. The comparative figure for the year to 31 December 2018 was $700,000.

On 1 January 2018 and 1 January 2019, DeEe's issued share capital consisted of 900,000 ordinary shares of $1 each. On 1 July 2019, DeEe Ltd made a 1 for 4 rights issue at 50 cents per share. This issue was fully subscribed. The market value of DeEe's shares just before the rights issue was $1 per share.

Required -

1. Calculate the basic EPS for the year to 31 December 2019.

2. Calculate the restated basic EPS for the year to 31 December 2018.

Reference no: EM132629870

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