Extracts from group financial statements of AB, a public limited company, year ended April 30, 2021. Profit from continuing operations 35,000 Minority interest distributed 1,500 Preference dividend Share capital at April 30, 2021 Ordinary shares of OMR 1 1,000 5% Convertible preference shares OMR (millions) 30
Extracts from group financial statements of AB, a public limited company, year ended April 30, 2021. Profit from continuing operations 35,000 Minority interest distributed 1,500 Preference dividend Share capital at April 30, 2021 Ordinary shares of OMR 1 1,000 5% Convertible preference shares OMR (millions) 30
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
![Extracts from group financial statements of AB, a public limited
company, year ended April 30, 2021.
OMR
(millions)
Profit from continuing operations
35,000
Minority interest distributed
1,500
Preference dividend
30
Share capital at April 30, 2021
Ordinary shares of OMR 1
1,000
5% Convertible preference shares
300
Other Information
1. The profits for the three months to April 30, 2021, are
OMR1,200 million.
2. On May 11, 2021, there was a bonus issue of one for four
ordinary shares. The financial statements are made up to
April 30, 2021, and had not yet been published.
3. XY plc, a 100% owned subsidiary of AB, has in issue 9%
convertible bonds of OMR200 million that can be
converted into one ordinary share of AB for every OMR10
worth of bonds. Income tax is levied at 33%.
Required
Calculate basic and diluted earnings per share.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F87be6314-ed6e-41fc-927b-61628621936f%2Ff3d006da-df6d-4cf1-a9af-2a6d802b7bac%2Fk3v6olf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Extracts from group financial statements of AB, a public limited
company, year ended April 30, 2021.
OMR
(millions)
Profit from continuing operations
35,000
Minority interest distributed
1,500
Preference dividend
30
Share capital at April 30, 2021
Ordinary shares of OMR 1
1,000
5% Convertible preference shares
300
Other Information
1. The profits for the three months to April 30, 2021, are
OMR1,200 million.
2. On May 11, 2021, there was a bonus issue of one for four
ordinary shares. The financial statements are made up to
April 30, 2021, and had not yet been published.
3. XY plc, a 100% owned subsidiary of AB, has in issue 9%
convertible bonds of OMR200 million that can be
converted into one ordinary share of AB for every OMR10
worth of bonds. Income tax is levied at 33%.
Required
Calculate basic and diluted earnings per share.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 7 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Foundations Of Finance](https://www.bartleby.com/isbn_cover_images/9780134897264/9780134897264_smallCoverImage.gif)
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
![Fundamentals of Financial Management (MindTap Cou…](https://www.bartleby.com/isbn_cover_images/9781337395250/9781337395250_smallCoverImage.gif)
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
![Corporate Finance (The Mcgraw-hill/Irwin Series i…](https://www.bartleby.com/isbn_cover_images/9780077861759/9780077861759_smallCoverImage.gif)
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education