You are given the following information for Y Ltd for the year ending 30 June 2023.

The company has 2.4 million fully paid ordinary shares on issue at July 2022 and 2 million, 5 percent, $1.00 preference shares.

On 1 January 2023 the company issued a further 600 000 ordinary shares at full market price and on 1 May 2023 the company made a one-for-three bonus issue. The last sale price before the issue was $1.50.

REQUIRED

Calculate the basic earnings per share of Y Ltd for the year ending 30 June 2023.

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Net profit before tax Income tax expense Profit after tax Non-controlling interest Dividends: $1 455 000 ($655 000) $800 000 ($100 000) - Preference - Ordinary ($100 000) ($300 000) Increase in retained earnings $300 000