Compute the basic earnings per share

Reference no: EM132971868

5,000 fully paid ordinary shares purchased back on 01/03/2017 at the prevailing market price;

For the year ended 30/06/2016, ABC Company had 40,000 fully paid ordinary shares of Tk. 10 each. The following issues and purchases were subsequently made during the year:

20,000 fully paid ordinary shares issued on 01/08/2016 at the prevailing market price;

7,000 partly paid ordinary shares issued on 01/04/2017 at an issue price of Tk. 20. The shares were partly paid to Tk. 14. The partly paid shares carry the right to participate in dividends in proportion to the amount paid as a fraction of the issue price.

The reported net profits of the company were Tk. 230,000. For the entire financial year ABC Company limited had 10,000 preference shares of Tk. 100 each, which provide dividends at a rate of 10 percent per year.

Requirement: Compute the Basic Earnings Per Share for 2017 as per the IAS 33.

Reference no: EM132971868

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