Jana Ltd$$s net profit for the year ended December $2020$ was KShs $4\mathrm{.}6$ million and it has $500,000$ equity$-$classified preference shares. Each preference share provides for a cumulative discretionary dividend each year of KShs $1\mathrm{.}20$ per preference share. On $1$ January $2020,$ Jana Ltd has $1$ million ordinary shares outstanding. On $1$ July $2020$ Jana Ltd issued $200,000$ ordinary shares for cash. On $1$ September $2020,$ Jana Ltd issued a further $100,000$ shares for cash.

 

 

Required:

Calculate the basic earnings per share of Jana Ltd as at $31$ December $2020.$