An entity had 1 million shares in issue on 1 January 20X1. They issued 200,000 shares at market value on 1 April 20X1, followed by a 1 for 5 bonus issue on 1 August 20X1, with a further 300,000 issued at market value on 1 October 20X1. If profit for the year ending 31 December 20X1 is $220,000, what is the basic earnings per share?
My calculation : Bf- 1,000,000 1st April – 150,000 Bonus – 240,000 1st Oct – 11- 75,000 TOTAL = 1,465,000 As per book = 1,455,000