Maxs net profit for the year ended 31 December 20X2 is 565,000. At the start of the year Max

had 6,000,000 shares in issue. On 1 September 20X2, Max made a bonus issue of 1 share for

every 8 held.

There were no other share issues during the period. Max reported a basic earnings per share

figure for the year ended 31 December 20X1 of 11.0 pence.

Required:-

Calculate the basic earnings per share of Max for the year ended 31 December 20X2 and the

comparative for the year ended 31 December 20X1.