Q1 Basic EPS for the year A companys issued share capital is 2m, comprising four million ordinary shares at 25p each and one million 8% preference shares of 1. An extract from the companys statement of comprehensive income for the year to 31 March 2020 is as follows:

000

Profit before tax 560

Taxation 170

Profit after tax 390

Preference dividends of 80,000 were paid during the year. Required: Calculate basic EPS for the year