Cobra Ltd$,$ a publicly quoted company, has $750,000$ ordinary shares of $$4$ each in issue

throughout its financial year ended $31$ March $2014.$ The following are the other

particulars during $1$ April $2014$ to $31$ March $2015$:

$1$ July $2014$: New issue of $250,000$ ordinary shares at full market price of $$4$;

$30$ September $2014$: $3$:$2$ share split;

$1$ November $2014$: Bonus issue made of $2$ for $5$

$1$ December $2014$: Rights Issue $1$ for $7$; average market price before the rights

issue $$8,$ exercise price $$7$

$100,0008\mathrm{.}5\%$ convertible preference shares of $$10$ each in issue since $1$ April

Each preference share is convertible into $15$ ordinary shares.

$$4,000,00012\%$ convertible loan notes were issued on $1$ October $2013.$ Each

$$5$ loan note is convertible into two ordinary shares.

The statement of comprehensive income of Cobra for the year ended $31$ March $2015$

reports Earnings Before Interest and Taxes of $$1,806,428($$$1,311,428$ for the year

ended $31$ March $2014).$ Tax on profits is $30\%.$ The average market price of Cobra's

ordinary shares was:

Options granted in January $2014$ to the company's senior management giving them the

right to subscribe for $600,000$ ordinary shares at a cost of $$6$ each. Options were

exercised on $31$ December $2014.$

Required:

Prepare partial Income Statement for the year ended $31$ March $2015$ showing basic and

diluted EPS $($show necessary calculations$)$