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Financial statement and share information of Topaz Co are as follows: Net profit after tax Less preference dividends Net profit attributable to ordinary shareholders Number of issued ordinary shares at 31 December 2021 $7,350,000 (48,000) $ 7,302,000 1,500,000 2022 $9,580,000 (48,000) $9,532,000 2023 $ 10,980,000 (24,000) $10.956,000 3,400,000 4,900,000 Information on movements in ordinary shares Date Event Number of shares January 1, 2021 New issue for cash incorporation) 1,500,000 December 31, 2021 Financial year end April 1, 2022 New issue for cash 200,000 July 1, 2022 Bonus issue: 1 for 1 (i.e. 1 new for 1 1,700,000 existing) December 31, 2022 Financial year end July 1, 2023 Rights issue: 1 for 2 1,700,000 1 new share for every 2 existing shares Exercise price per share: $2 Market price per share: $3 All rights were taken up October 1, 2023 Shares re-purchased by Topaz at fair value (200,000) December 31, 2023 Financial year end Required: 1. Prepare Basic EPS for the financial years ended December 31, 2022 and December 31, 2023. 2. Present the restated comparatives for each reporting year. Basic EPS 2.8885 2022 2023 Requirement 1 Profit Weighted Attributable to Ordinary Average Shares Shareholders $ 9,532,000 $3,300,000 $ 10,956,000 Requirement 2 Weighted- Net Profit average Number of Shares $ 7,302,000 $ 1,500,000 Basic EPS Restatement of comparatives 2021 2021 2022 4.868

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