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The following information is available for Billy's Baubles Corp. that reports its financial results in accordance with IFRS. (Click the icon to view the data.)
The following information is available for Billy's Baubles Corp. that reports its financial results in accordance with IFRS. (Click the icon to view the data.) Billy's ordinary share balances through the year follow. (Click the icon to view the ordinary shares issued.) Required a. Compute Billy's basic EPS for the year ended December 31, 2021. b. Prepare a schedule that sets out the income effect, share effect, and incremental EPS for each security that convertible into ordinary shares. Rank the potential ordinary shares by their dilutiveness. c. Compute Billy's diluted EPS for the year ended December 31, 2021. d. Show the required presentation of the EPS data on the income statement. Requirement a. Compute Billy's basic EPS for the year ended December 31, 2021. Begin by calculating Billy's weighted average number of ordinary shares outstanding in 2021. (Abbreviation us number.) Data table Net income for 2021 Ordinary Shares Issued Opening balance Income tax rate during 2021 $ 1,100,000 35% Ordinary shares of ordinary shares Period (2021) Jan. 1 Mar. 31 Apr. 1 - Apr. 30 May 1 - Nov. 30 Dec. 1 Dec. 31 Weighted average number of ordinary shares outstanding outstanding Fraction of year Share adjustment factor Contribution to WASO Liabilities and equity outstanding as at December 31, 2021 3% convertible bonds-each $1,000 bond is convertible into 15 ordinary shares January 1, 2021 Activity Opening balance outstanding 250,000 $ 700,000 April 1, 2021 Sold 30,000 shares 280,000 6% convertible bonds-each $1,000 bond is convertible into 18 ordinary shares $ 5,000,000 May 1, 2021 December 1, 2021 Repurchased 5,000 shares 275,000 Sold 10,000 shares 285,000 5% cumulative preferred shares-each $50 preferred share is convertible into 6 ordinary shares Ordinary shares $ 150,000 Print Done $ 6,250,000 Select the formula and enter the amounts to compute Billy's basic EPS in 2021. (Abbreviations used: WAPSO Requirement b. Prepare a schedule that sets out the income effect, share effect, and incremental EPS for ea incremental EPS to the nearest cent, $X.XX.) Potential ordinary shares Income Share Incremental R effect effect EPS Requirement c. Calculate Billy's diluted EPS for the year ended December 31, 2021. The bonds and preferred shares were outstanding for the entire year Dividends were not declared on the preferred shares in 2020 $15,000 dividends were declared and paid on the preferred shares in 2021 Print Done Ind your final answer for income effect and share effect to the nearest whole number. Round - X
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