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What is the profit attributable to ordinary shareholders

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Reference no: EM132964619

A company has an issued share capital of 600,000 ordinary shares, issued at 20 cents per share and 100,000 12% preference shares of issued at $1.00 per share. Preference shares are paid a dividend of 12 cents per share. Preference share holders are paid their dividend from profits, prior to the payment of any dividends to ordinary shareholders.

Problem 1: If Profit after tax for the period is $420,000, what is the profit attributable to ordinary shareholders, on a per share basis?

Select one:
a. 0.78 cents per share
b. 0.60 cents per share
c. 0.70 cents per share
d. 0.68 cents per share

Reference no: EM132964619

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