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Tortellini plc has basic earnings of 3 million for the year ended 30 November 2021...

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Accounting

Tortellini plc 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. (5 marks) 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.

ANSWER ALL PARTS ASAP PLEASE

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