AAT Investment bought 50,000 shares of ACCA Ltd listed company, on 1 May 2021 for $360,000, incurring cost of $40,000 holding them to gain in future. The fair value of a share was $ 10.00 on 30 June 2021,

Show what are the amounts appear in financial statements of AAT Investment as on 30 June 2021. (6 marks)

(ii) LMN plc co has $500,000 shares at par value of 50c each in issue and 120,000 convertible bond of %50 each. LMN plc profit after tax for the year ended 30 April 2022 was $240,000.

Calculate Basic Earning per share and Diluted earning per share of LMN plc co with the help of formula in accordance with IAS 33