A company's issued share capital is £2 million, comprising four million ordinary shares of 25p each and one million 8% preference shares of £1. An extract from the company's statement of comprehensive income for the year to 31 March 2024 is as follows:

The preference shares are classified as equity in accordance with international standard IAS32. Preference dividends of £80,000 were paid during the year.

Required:(a) Calculate basic EPS for the year.(b) Recalculate basic EPS for the year on the assumption that the company's profit after tax includes profit of £50,000 from a discontinued operation.

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Profit before tax Taxation expense Profit for the year £000 485 95 390