Paul plc has 6,000,000 ordinary shares of 30p each in issue throughout 2022. In addition, the company also had in issue at the end of 2022:

£2,000,000 of 14% convertible loan stock, convertible in three years' time at the rate of 4 shares per £10 stock

£3,000,000 of 15% convertible loan stock, convertible in one year's time at the rate of 2 shares per £4 stock

The total earnings, after tax for the year ended 31 December 2022 were £2,450,000 The income tax rate is 30%.

REQUIRED:

Compute Paul plc's basic earnings per share and diluted earnings per share for the year ended 31 December 2022.