Question Apple Limited is a listed company on the Hong Kong Stock Exchange. Its main business is the sales of fruits and vegetables. The financial year end of Apple Limited is December 31. The number of issued ordinary shares as at December 31, 2019 was 5,000,000 with the value of $5,000,000. On January 1, 2020, Apple Limited issued convertible preference shares and convertible bonds to raise funds for the company. In order to motivate employees to have better performance, Apple Limited launched a performance award scheme to reward good employees with options. Each options granted allows the employees to subscribe one ordinary share of Apple Limited. Apple Limited issued 900,000 options to 10 employees on January 1, 2020. The information about the options, convertible preference shares, and convertible bonds is given below: Quantity Dividend Nominal value Exercise price $3 Interest rate Conversion ratio 900,000 800,000 Options Convertible preference shares $12 per share Convertible bonds $6,000,000 1 preference shares to 5 ordinary shares $1,000 convertible bond to 10 ordinary shares 20% The earnings attributable to ordinary shareholders of Apple Limited for the year ended December 31, 2020 was $7,000,000. The tax rate for the year 2020 was 15%. The average share price of ordinary shares of Apple Limited during 2020 was $10 per share. Required: Determine the basic and diluted earnings per share of Apple Limited for the year ended December 31, 2020 according to HKAS 33 Earnings Per Share. (100 marks)