Waffle had share capital of $7.5 million in 50c equity shares at 1 October 20X6. On 1

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Question:

Waffle had share capital of $7.5 million in 50c equity shares at 1 October 20X6. On 1 January 20X7 it made an issue of 4 million shares at full market price immediately followed by a 1 for 3 bonus issue. The financial statements at 30 September 20X7 showed profit for the year of $12 million. What was EPS for the year?

a. 73c

b. 48c

c. 50c

d. 53c