QUESTION ONE [20] Pukri Ltd is deciding whether to pay out R90 000 in excess cash in the form of an extra dividend or a share repurchase. Current profits are R2,40 per share and the share sells for R20. The abbreviated balance sheet before paying out the dividend is: Equity 240 000 Bank/cash 90 000 Debt 160 000 Other Assets 310 000 400 000 400 000 Evaluate each alternative (i.e: pay the dividend or repurchase the shares) by: 1.1 Calculating the number of shares in issue (4) 1.2 The dividends per share (for the first alternative, i.e. pay the dividend) (2) 1.3 Calculate: 1.3.1 The new share price (6) 1.3.2 The EPS (4) 1.3.3 The price-earnings ratio (4)