Dormant Ltd Has a Net Income After Tax of $2,540,000

question 17

Multiple Choice

Dormant Ltd has a net income after tax of $2,540,000 for the year ended 30 June 2005.At the beginning of the period Dormant Ltd had 3,000,000 fully paid-up ordinary shares on issue.On 1 November 2004 Dormant Ltd makes a rights issue of 1 fully paid share for every 6 shares held.The required payment for the rights issue shares was $2.00.The last cum rights price was $3.00.What are the basic earnings per share for the period ended 30 June 2005 in accordance with AASB 133?

• A) $0.73
• B) $0.75
• C) $0.76
• D) $0.78
• E) None of the given answers.

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