Exercise 19.8 RIGHTS ADJUSTMENT FACTOR AND ADJUSTED BASIC EARNINGS PER SHARE Assume that in exercise

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Exercise 19.8 ★ ★ RIGHTS ADJUSTMENT FACTOR AND ADJUSTED BASIC EARNINGS PER SHARE Assume that in exercise 19.16 Kenny Ltd announced the rights issue at the beginning of its reporting period (1 July 2014) and the last date for exercising the rights was 1 October 2014. Kenny Ltd announced profi t attributable to ordinary shareholders of $109 725 for the full reporting period. Required Use the theoretical ex-rights value per share determined in exercise 19.16 to calculate the adjustment factor, and calculate adjusted basic earnings per share.

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