F7 Course Notes – Mini Exercises – Q9 Part 2

Hi all,
I’m having trouble with the question below;

Question 2
Trial balance extracts at 30 September, 2008
Suspense account credit balance 24,000
Equity shares of 50c each, fully paid as at
1 October, 2007 60,000
The suspense account contains the corresponding credit entry for the proceeds of a rights issue of shares made on 1 July 2008. The terms of the issue were one share for every four held at 80 cents per share. Llama’s share price immediately before the issue was $1. The issue was fully subscribed.
Show the entry to remove the suspense account balance. Assuming that earnings available for equity shareholders were
$26,250, calculate the earnings per share figure for the year to 30 September, 2008.

The answer gives the Earnings per share as 20cents however my calculation comes in at 20.33 cents, assuming the answer hasn’t been rounded down I must be missing something, unfortunately the answers at the back don’t go into the workings in much detail, if anyone can help me out with the method it would be most appreciated

thanks for your help