Q3. Tortellini pl has basic earnings of £3 million for the year ended 30 November 2021 and a weighted average number of shares of 10 million. Tortellini pays corporation tax at 20%. It has a £5m of 6% convertible loan stock that can be converted in 2023 into 24 shares per £100 of loan stock. Calculate the diluted EPS for Tortellini for the year ended 30 November 2021. Show your answer in 3 parts: (i) The revised earnings (ii) The revised number of shares (iii) The diluted EPS, stating your answer to 1 decimal place.

Q3. Tortellini pl has basic earnings of £3 million for the year ended 30 November 2021 and a weighted average number of shares of 10 million. Tortellini pays corporation tax at 20%. It has a £5m of 6% convertible loan stock that can be converted in 2023 into 24 shares per £100 of loan stock. Calculate the diluted EPS for Tortellini for the year ended 30 November 2021. Show your answer in 3 parts: (i) The revised earnings (ii) The revised number of shares (iii) The diluted EPS, stating your answer to 1 decimal place.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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