financial accounting basic diluted;The following information is provided by Sino Ltd;For the year ended 30 June 2010 Sino Ltd earned profit of $8,000,000 which included a profit of $400,000 from a discontinued operation.;On 30 June 2010 Sino Ltd had the following shares and other financial instruments outstanding;-Ordinary shares$5,000,000;Movement for year ordinary shares;On issue 1 July 2009, 4,000,000 shares of $ 1 fully paid;Issued on 1 March 2010 2,000,000 shares of $1 paid to 0.60;Share buy back 1 June 2010 200,000 fully paid shares;-Preference shares: 3 million issue at $ 13,000,000;-Options to purchase 300,000 ordinary shares issued at a price of $ 3 each;-Unsecured notes: 1 million notes issued at $ 1each bearing interest at 10% per annum and convertible to ordinary shares on a 1-for-1 basis.;-The preference shares are convertible to ordinary shares on a 1-for-30 basis;-The annual preference dividend is $150,000;On 30June 2010 the ordinary shares are trading at $5.;The income tax rate is 30%.;Required;1. Using the above information calculate basic earnings per share for the year ended 30 June 2010 as required by Accounting Standard AASB133;2. Using the above information calculate diluted earnings per share for the year ended 30 June 2010 as required by Accounting Standard AASB133.
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