In its recent year-end, Rod Roy reported an after tax loss of $10,000 which included income...
In its recent year-end, Rod Roy reported an after tax loss of $10,000 which included income from continuing operations of $50,000 after tax. There were discontinued operations during the year.
IT also reported the following at the beginning of the year:
Preferred shares, 3%, cumulative $200,000
Common shares, 5,000 issued and outstanding $100,000
No shares were issued or repurchased during the year, however there were outstanding options issued several years prior allowing for the purchase of 6,000 common shares at a price of $15. The average market price in the year was $18.
Required:
Provide the required IFRS disclosures for earnings per share data required in Rod Roy’s annual report.
Homework Answers
Profit after Tax= $ 50000
Dividend to Pref. Share = $200000*3% = $6000
Profit after Dividend to Pref Share holder = $(50000-6000) = $44000
Earning Per Share = $44000/5000 = $8.8
Diluted Earing Per Share = $44000/(5000+6000) = $44000/11000 = $4
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