The financial statements for year N of Rochefort SA present N-1 as a comparative. For N, the profit attributable to ordinary equity holders is 4,800,000 (in euros) for 24,000,000 units shares outstanding throughout the year. For N-1, the published profit was 3,900,000 for 26,000,000 units shares; a material error in N-1, corrected retrospectively in the financial statements for N, reduces that profit by 260,000. After the end of N but before authorisation for issue, the entity consolidates its shares at the rate of one new share for ten old ones. Calculate basic earnings per share for N and for N-1 as presented. Round earnings per share to two decimals (case convention).
- Profit attributable to ordinary equity holders of N
- 4,800,000
- N shares before the consolidation
- 24,000,000
- Published N-1 profit
- 3,900,000
- Reduction of the N-1 profit by the error correction
- 260,000
- N-1 shares before the consolidation
- 26,000,000