B. EXCELL PLC reported retained earnings of Rs 30 million in the year ended 31 Dec 2018, The company has the following shares in issues at that date. Ordinary shares (After the right issue) 12 million Shares Cumulative preference shares (Rs 2 Each) 4 million Shares Fixed dividends are paid on the preference shares at a rate of 5% of carrying value. On 30 April 2018 Company issued 1 share for every 5 shares at Rs 8. Market value of a share before the right issue is Rs 12. Required: Calculate the basic earnings per share for the year ended 31 December 2018. (8 Marks)