Question 3 (20 Marks) Venus Limited's issued share capital at 31 December 2018 was as follows: Ordinary shares of N$1 each 3 000 000 18% N$1 Convertible preference shares 1 000 000 The preference shares are at the option of the preference shareholders convertible into 50 ordinary shares per 100 preference shares at any time before 31 December 2020. On 30 June 2018 the company had a rights issue of 1 share for every 2 held at that date. The shares were issued at a price of N$2.50 each. The fair value at that date was N$4.00 per share. The company's profit and total comprehensive income for the year ended was N$1 570 000 (2017: N$1 020 000). Profit for the year is after N$180 000 per annum finance cost in respect of the convertible preference shares. On 31 December the company declared and paid an ordinary dividend of N$471 000 (2017: N$306 000). The company has no dividend income. Page 11 of 17 The company is required by its memorandum to maintain a dividend payout- ratio of 30% after all taxes and preference dividends in the foreseeable future. REQUIRED: Disclose the earnings and dividends per share information of Venus Limited for the year ended 31 December 20.5 in accordance with International Financial Reporting Standards