The financial statements of M&S are presented in Appendix 5B or can be accessed at the book’s companion website, www.wiley.com

Instructions
Refer to M&S’s financial statements and the accompanying notes to answer the following questions.
(a) Under M&S’s share-based compensation plan, share options are granted annually to key managers and directors.
(1) How many options were granted during 2008 under the plan?
(2) How many options were exercisable at March 29, 2008?
(3) How many options were exercised in 2008, and what was the average price of those exercised?
(4) How many years from the grant date do the options expire?
(5) To what accounts are the proceeds from these option exercises credited?
(6) What was the number of outstanding options at March 29, 2008, and at what average exercise price?
(b) What number of diluted weighted-average shares outstanding was used by M&S in computing earnings per share for 2008 and 2007? What was M&S’s diluted earnings per share in 2008 and 2007?
(c) What other share-based compensation plans does M&S have?