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Peterson plc had 10 million ordinary shares in issue throughout the year ended 30 June...

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Accounting

Peterson plc had 10 million ordinary shares in issue throughout the year ended 30 June 20X3. On 1 July 20X2 it had issued 2 million of 6% convertible loan stock, each 5 of loan stock convertible into 4 ordinary shares on 1 July 20X6 at the option of the holder.

Peterson plc had profit for the year ended 30 June 20X3 of 1,850,000. It pays tax on profits at 30%

Calculate the basic and diluted earnings per share for the year ended 30 June 20X3.

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