10 ABC Ltd had 41,000 ordinary shares on issue at 1 January 2014 which is the beginning of its reporting period. On 30 June 2014 it issued a further 4,000 ordinary shares for cash. On 1 November 2014 ABC Ltd repurchased 12,000 shares at fair value in a market transaction. The weighted average number of shares for use in the earnings per share calculation at the end of its 2014 financial year is: a. 41,000 b. 40,333 40,000 d. 33,000 11 Jon Ltd determined its profit attributable to ordinary shareholders for the reporting period ended 31 December 2014 as $270,000. The number of ordinary shares on issue up to 1 October 2014 was 50,000. Jon Ltd announced a two-for-five bonus issue of shares effective for each ordinary share outstanding at 1 October 2014. Basic earnings per share is: a. $3.86 b. $1.54 C. $4.91 d. $5.40