1. For the year ending 30 June 2020, Granite Ltd reports the following: {aJNet prot after tax of $1.2 million. {bJIGranite Ltd commenced the year with 400 000 fully paid ordinary shares. During the year the oompany: issued 30 000 fully paid ordinary shares on 1 November 2019 at the prevailing market price purchased back 50 000 fully paid ordinary shares on 1 March 2020 at the prevailing market price issued 100 000 partly paid ordinary shares on 1 June 2020 at an issue price of $2.00. The shares were partly paid to $1.00. The partly paid shares carry the right to participate in dividends in proportion to the amount paid as a fraction of the issue price. {chor the entire year, Granite Ltd had 500 000 $1.00 preference shares, which provide dividends at a rate of 10 per cent per year. The dividend rights are cumulative. The preference shares were disclosed as equity. REQUIRED Compute the basic earnings per share for Granite Ltd for 2020