3. The last financial year of Clomore plc, a publicly traded company, ended on 31 March 2018. On 1 April 2017 the share capital of Clomore plc was as follows: Authorised Issued E Ordinary shares of 1 5% Preference shares of 1 10,000,000 6,000,000 2,000,000 1,500,000 On 1 November 2017 Clomore plc made a rights issue of 1 for 3 at an exercise price of 1.55. The market value of each ordinary share on 31 October 2017 was 1.75 per share. The new shares were eligible for all subsequent dividends. Clomore plc's summarised income statement for the year ended 31 March 2018 was as follows: Net profit Taxation 1,344,500 269,000 1,075,500 Profit for the year The market value of each ordinary share on 31 March 2018 was 2.08. Required a) Calculate Clomore plc's basic earnings per share for the year ended 31 March 2018 in accordance with the provisions of IAS33 Earnings per share. (13 marks) b) Prepare a disclosure note for inclusion in the notes to Clomore ple's financial statements for the year ended 31 March 2018 which meets the requirements of IAS 33 Earnings per Share. (3 marks) c) Calculate Clomore plc's market capitalisation as at 31 March 2018 and explain its usefulness. (4 marks) Total 20 marks