a)Calculate the basic earnings per share for the year ended March 31, 2023

b)) Prepare the statement of financial position as at March 31, 2023

Below is the trial balance for Hazzizzi Ltd, a pharmaceuticals manufacturing company: The following details are deemed relevant to the preparation of the draft financial statements which are to be presented to the entity's auditors: Property, plant and equipment Subsequent to a revaluation exercise which took place on March 31, 2023, the land had a fair value of $226 million, while the building had a fair value of $971 million. The building is depreciated evenly over thirty years to a nil residual value, with the charges allocated in a 3:1 ratio between administrative expenses and cost of sales. There have been no adjustments made for the revaluations in the current period, and their effects have not been included in the accumulated temporary differences noted below. The capital allowances granted on the building to date are equivalent to the accumulated depreciation charged against it. Four months into the financial year, the entity bought a motor vehicle for $13.2 million, but inadvertently recorded the debit to miscellaneous expenses. Motor vehicles are depreciated on a straight line basis over eight years to a nil residual value. All depreciation charges on motor vehicles are to be allocated to distribution costs. Additionally, management bought a conveyor system costing $18.1 million halfway through the financial year, which it is yet to record in the books. The system is comprised of two components: one of which has a useful life of 24 years, while the other component has to be replaced every six years. The latter component accounts for 8% of the total cost of the system. Associated depreciation charges are allocated in full to distribution costs. Fixtures and fittings and machinery are to be depreciated 9% on the reducing balance and 12% on cost respectively, while equipment is to be depreciated over eight years on a straight line basis other operating expenses, while for machinery as well as equipment, depreciation charges are allocated equally between cost of sales and administrative expenses. During the year, management commenced processes to sell all of its existing machinery to facilitate a major upgrade project. The sale was deemed highly probable effective July 1, 2022 when a buyer was identified. The items have a combined fair value of $107 million, with disposal costs amounting to $4.4 million. Any impairment or gain on the transaction should be recognised in other operating expenses. Included in miscellaneous expenses is a lease payment which relates to the rental of manufacturing equipment with a remaining useful life of three years. The agreement commenced on April 1, 2022, and requires that a total of five annual payments of $8.1 million are made - an eighth of which relates to maintenance expenses, and another 5% of which is attributable to insurance expenses. Maintenance and insurance expenses are ordinarily classified as other operating expenses. The lease agreement also speaks to a guaranteed residual value of $0.96 million, and permits the extension of the lease by an additional two years. Management is confident that the company should receive the intended benefits from the leased asset within the agreed period, which would negate the need to extend the contract. The incremental borrowing rate is 7%, while the interest rate implicit in the lease is 400 basis points higher. The $8.1 million payment debited to miscellaneous expenses is the only record of the lease transaction that has been made to date. Also debited to miscellaneous expenses is $1.1 million for legal fees incurred to draft the lease agreement on April 1, 2022, while a lease incentive of $490,000 which was received by cheque has yet to be recorded. Depreciation on the right of use asset is to be shared equally between cost of sales, administrative expenses, and other operating expenses. The entity prefers to show the leased asset separately within its property, plant and equipment for presentation purposes