问题详情

(a)Thefollowingfigureshavebeencalculatedfromthefinancialstatements(includingcomparatives)ofBarsteadfor
theyearended30September2009:
increaseinprofitaftertaxation80%
increasein(basic)earningspershare5%
increaseindilutedearningspershare2%
Required:
Explainwhythethreemeasuresofearnings(profit)growthforthesamecompanyoverthesameperiodcan
giveapparentlydifferingimpressions.(4marks)
(b)TheprofitaftertaxforBarsteadfortheyearended30September2009was$15million.At1October2008thecompanyhadinissue36millionequitysharesanda$10million8%convertibleloannote.Theloannotewillmaturein2010andwillberedeemedatparorconvertedtoequitysharesonthebasisof25sharesforeach$100ofloannoteattheloan-noteholders’option.On1January2009Barsteadmadeafullysubscribedrightsissueofonenewshareforeveryfoursharesheldatapriceof$2·80each.ThemarketpriceoftheequitysharesofBarsteadimmediatelybeforetheissuewas$3·80.Theearningspershare(EPS)reportedfortheyearended30September2008was35cents.
Barstead’sincometaxrateis25%.
Required:
Calculatethe(basic)EPSfigureforBarstead(includingcomparatives)andthedilutedEPS(comparativesnotrequired)thatwouldbedisclosedfortheyearended30September2009.(6marks)


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