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Determine the distributable profit for the year ended

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Reference no: EM132616253

A company had the following balances at 31 March 2019

share capital (£1 shares)       £500.000

Revaluation Reserve.            £100,000

Profit and loss revenue.        £750,000

                                    £1350,000

During the year to 31 March 2020, the company made an after-tax profit of £800,000 and paid dividends of £250,000. The asset to which the £100,000 revaluation reserve related was sold for a gain of £20,000. The gain is included in the after-tax profit for the year.

Problem (i) Determine the distributable profit for the year ended 31 March 2020.

Problem (ii) Determine the Earning Per Share for the year ended 31 March 2020

Reference no: EM132616253

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