Plumbagos Enterprise Limited currently has net income of $250 million and share premium of $150 million for period ended December 31, 2020. The entity also has ordinary share capital of $250 million on January 1, 2020. The par value of each share held is $0.50. The entity decided to make a bonus issue of shares on March 1, 2020 of one for every five shares held. On July 1, 2020, the entity made a one for six rights issue of share of $4 when the marker price of each share stood at $5 per share. The entity currently has 10% redeemable preference share capital of $200 million Required: 3. Write the relevant journal entries for the bonus and rights issues. 16 marks b. State any two limitations of earnings per share. 1 2 marks c. Calculate basic earings per share. 17 marks