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intermediate financial accounting Toper Ltd commenced the financial year ending April 30, 2021 with $150 million of $0.60 ordinary shares in issue. On October 1,
intermediate financial accounting
Toper Ltd commenced the financial year ending April 30, 2021 with $150 million of $0.60 ordinary shares in issue. On October 1, 2020, the entity issued 8% convertible bonds to the tune of $480 million. These bonds mature in 2025 , and may be converted to 54 million shares upon maturity. In the financial year to April 30, 2021, the entity earned profits before tax of $222 million, while its profit before tax for the following financial year amounted to $318 million. The applicable tax rate is 30%. Required: - Calculate the BEPS for the 2021 and 2022 financial years. - Calculate the DEPS fyr the 2021 and 2022 financial years Step by Step Solution
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