PART A

Details of Proton Limited's share capital and potential share capital are as follows:

At $1$ January $2020$ there were $100,000$ ordinary shares in issue, all of which were issued at a fair value of $$1\mathrm{.}75$ per share.

On $30$ November $2020,12,000$ ordinary shares were issued at a fair value $$2\mathrm{.}00$ per share. There have been no other issues since $30$ November $2020.$

There are $25000$ options in issue entitling the option holder to $1$ ordinary share at a strike price of $$2\mathrm{.}00$ per share $($the average market price of an ordinary share for $2021$:$$2\mathrm{.}75).$

Additional information:

Proton Limited has a profit for the year ended $31$ December $2021$ of $$125,000(2020$: loss of $$50,000).$

An interim ordinary dividend of $$0\mathrm{.}04$ per share was declafed and paid on the $30$ June $2021.$ On $15$ December $2021$ a final ordinary dividend of $$2,800$ was declared.

Corporate income tax is levied at $35\%.$

There are no components of other comprehensive income.

REQUIRED

Prepare an extract from the statement of comprehensive income of Proton Limited for the year ended $31$ December $2021,$ including the disclosure of basic and dilluted earnings per share, in accordance with the International Financial Reporting Standards.

$($Notes to the financial statements are not required$)$

$[18$ Marks$]$