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On 1 January 2021, Warren Corporation had 1,200,000 ordinary shares outstanding. During 2021, the company has the following transactions affecting its' ordinary shares. (i) On

On 1 January 2021, Warren Corporation had 1,200,000 ordinary shares outstanding. During 2021, the company has the following transactions affecting its' ordinary shares. (i) On 1 March, the corporation issued 150,000 new shares to raise additional capital. (ii) On 1 July, the corporation declared and issued a 2-for-1 share split. (iii) On 1 October, the corporation purchased on the market 600,000 of its own outstanding shares and retired them. (iv) Warren Corporation had 100,000 shares of 9%, $10 par, non-cumulative preference shares outstanding for the entire year. The company declared and paid the preference dividend in 2021. (v) The net income of Warren Corporation for 2021 is $240,000. Warren Corporation granted 1,000,000 share options in 2020. Each option could be exercised for ONE ordinary share at $8. . The average market price of Warren Corporation's ordinary shares during 2021 was $20 per share. None of the share options was exercised as of 31 December 2021. Required: (Support with detailed calculations.) B1. Compute the weighted-average number of ordinary shares outstanding for 2021. (6 marks) B2. Compute the basic earnings per share for 2021. (4 marks) B3. Compute the diluted earnings per share for 2021. (Rounded to three decimals.) (6 marks)

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