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Compute the basic earnings per ordinary share

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Reference no: EM132539679

London company had the following share capital at the end of the current year:

Preference share capital, 100 par, 30,000 shares           3,000,000

Ordinary share capital, 50 par, 100,000 shares             5,000,000

Net income for the year                                          2,600,000

  • the preference dividend rate is 8% and the preference share is noncovertible but cumulative and fully participating.
  • after the ordinary share has been paid a dividend of 10 per share, the preference share shall participate in any additional dividend on a prorata basis with the ordinary share.

required:

Question 1: Compute the basic earnings per ordinary share and per preference share.

Reference no: EM132539679

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